Vizhinjam Port: Talks held with Welspun to Reduce ‘Grant’ Amount

The negotiation panel appointed by the State Government on Monday asked Welspun Infratech Limited to reduce the ‘grant component’ for the Vizhinjam International Container Transshipment Port project. Welspun’s current demand is for a grant of Rs 479.54 crore, spread over a period of 16 years. In the meeting held at Thiruvananthapuram, the committee urged Welspun to submit the ‘best offer’ after working out a realistic proposal.

Welspun representatives agreed to get back after examining the government proposal.
The meeting was convened to negotiate and reduce the grant amount.

After getting the response from Welspun, the negotiation panel comprising law secretary C.P. Ramaraja Prasad, finance expenditure secretary Sanjay Garg, and port secretary R.K. Singh, as also Sureshbabu and three representatives of the project advisors of the International Finance Corporation (IFC) will re-examine the grant proposal.

News Sourced from “Metro Manorama

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