Jindal Steel & Power Ltd. (JSPL) has emerged as the highest bidder on a tender floated by State-owned Paradip Port Authority to build a 25-million tonne (mt) capacity, deep draft, dry bulk cargo terminal at the Western Dock of the port located in Odisha with an investment of Rs 2,392.13 crore.
In a surprising development, Adani Ports and Special Economic Zone Ltd. (APSEZ) which is fighting in multiple courts including Odisha High Court to reverse its disqualification from port tenders – did not place a price quotation when the bids were opened recently, government sources said. JSPL beat Essar Ports Ltd. and Navayuga Engineering Company Ltd. to emerge the highest bidder.
This will be JSPL’s first big contract in the ports sector, a business it has been looking to enter for some years now, including buying the Gopalpur Port in Odisha which was eventually acquired by Shapoorji Pallonji Group. Naveen Jindal’s brother Sajjan Jindal-led JSW Infrastructure Ltd. is the port operators.