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PSA bids for Gujarat port project: report
Star News, November 2004, Singapore
PSA International appears to be taking another stab at securing a stake in an Indian port venture with the submission of a financial bid for Royal Dutch Shell's proposed LNG and dry cargo port project in Gujarat. The Singapore-based global container terminal operator has reportedly made a bid for a 74 per cent share in the multi-cargo port project at Hazira, according to India's Financial Express newspaper.
The Dubai Ports Authority - a growing, expansion-minded regional port operator - was also identified as one of the bidders. 'These two companies have submitted bids for the project and plan to execute it with other consortium partners, if their bids go through,' the Express quoted unnamed sources as saying.
A PSA spokesperson declined to comment on the report when contacted by BT yesterday. The Hazira port project was originally conceived purely as a container port, but this was changed to include an LNG (liquified natural gas) import and regasification terminal to help meet the energy needs of Gujarat's industries.
Shell is expected to complete construction of the over US$500 million LNG facility by end-December with imports beginning in the first quarter of 2005. The terminal will have an import capacity of 2.5 million tonnes of LNG annually.
'Shell is committed to bringing value-adding partners with specialised expertise and experience to develop our multi-cargo port venture in Hazira,' the report quoted a Shell spokesperson as saying.
'However, for reasons of commercial confidentiality, we are unable to share any details.'
For PSA this marks yet another attempt to gain a more meaningful foothold in India after recent failures to secure stakes in port tenders in the country, including the key Jawaharlal Nehru Port's third container terminal expansion.
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