Over a week after a wave of rumours and speculation lashed the prospects of the US$1.1 billion Vizhinjam container transhipment terminal, Mumbai-based Zoom Developers is still awaiting the result of the re-evaluation of the company's bid by a committee set up by the state government, the Economic Times reported.
The project had plunged into uncertainty when Lanco Kondapalli Power, which had originally won the tender last year, decided to withdraw from the project citing undue delay on the part of the authorities to take a final decision on the issue, and there was speculation that Zoom Developers' bid had been rejected by the evaluation committee.
Putting on record Lanco's disillusionment with the procedural delays, company director V Sreenivas said, "Protracted litigations and an atmosphere vitiated by baseless speculations has altered out due diligence perspectives on the project".
Last week, both the ruling and opposition fronts in the state assembly had come together in a rare act of co-operation, suggesting that they should both work together to ensure that the project is realised.
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