THIRUVANANTHAPURAM: The state government on Monday sent the Letter of Award (LoA) to Adani Ports and Special Economic Zone Ltd for undertaking development and operation/maintenance of Vizhinjam International Deep water Multi-purpose Seaport Project.
Mr Chandy told reporters here that Adani Ports representatives would reach Thiruvananthapuram on July 20. The company has to sign and return the copy of LoA within seven days.
The chief minister attributed the delay in sending the LoA to certain formalities that had to be completed following the Cabinet decision to invite Adani Ports. The recent reports citing various other factors for the delay were baseless, he said.
Mr Chandy said the agreement would be signed within 45 days. The LoA stated that on the completion of the evaluation process, the bid submitted by Adani Ports, which comprised a grant of Rs 1,635 crore, had been accepted and the company had been declared the selected bidder for implementing the project.
Adani Ports shall sign and return the duplicate copy of the LoA in acknowledgement within seven days and shall execute the Concession Agreement within 45 days and it shall furnish the performance security within the time prescribed in the agreement. If not, the authority may appropriate the bid security of Adani Ports as damages and revoke the LoA.
