US$193m Mumbai Terminal Project Moves Closer to Fruition

THE consortium of Gammon India and Oragados SPL has received a letter of intent to develop the Mumbai Offshore Container Terminal Project.

The first phase of the terminal project is estimated to cost about INR8 billion (US$193.61 million), with the second phase costing the consortium a further INR4 billion.

The project is on a build-operate-and-transfer basis for 30 years, including a three-year-period to cover construction and equipping the facility, said a report by India's Equity Bulls.