On 23 June 2008, Gammon-Dragados
consortium started work on the Mumbai offshore container terminal.
The companies have floated a SPV -
Indira Container Terminal - in which they will each have a 50 per cent
stake. The consortium will spend Rs.800 crore in the initial phase of three
years and another Rs.400 crore subsequently, thus aggregating to about Rs.1,200
crore.
While the consortium will build the
terminal, the port will provide supporting infrastructure such as dredging and
navigational aids and the laying of tracks for a rail container depot. The
project, to be developed on BOT basis is expected to be completed within three
years.
Also See:
CCEA approves
Mumbai offshore container terminal (08-Nov-07)
Related Links:
Project profile