The Jawaharlal Nehru Port Trust (JNPT) has terminated the contract awarded to Singapore’s PSA International to build its fourth container terminal.
The JNPT took action as the Singapore government-owned port operator failed to sign a concession agreement; a document that sets the terms and conditions of a contract and puts a project in motion.
This decision was taken by the Port’s Board of Trustees on Monday, according to the Exim India.
“ While the termination process is on, the Port will simultaneously commence on the re-tendering procedures, which will take a few months to be finalised and ready, “ stated a Senior Port Official.
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Dredging Today Staff, September 20, 2012