India Container Terminal, a special purpose vehicle (SPV) incorporated by the consortium of Gammon and Dragados S.P.L, signed the licence agreement with Mumbai Port Trust for developing the Mumbai offshore container terminal project.
According to a release issued by Gammon to the BSE today, the agreement was signed yesterday.
"The estimated project cost is about Rs 800 crore in the initial phase of three years and another Rs 400 crore subsequently thus aggregating about Rs 1,200 crore. The project is on a build-operate-transfer (BOT) basis for 30 years including three years of construction & equipping period from the date of signing the agreement," the release added. |
