Mumbai: The Mumbai Port Trust (pictured) has received approval from the Indian government to award a Rs120m ($2.9m) contract for an Offshore Container Terminal to a joint venture company made up of Gammon India and Dragados SPL. The consortium, which offered MPT a 35% share in revenue from the terminal, will set up the facility on a Build, Operate and Transfer (BOT) basis for 30 years.
The project approval was announced by Thiru T.R. Baalu, minister of shipping, road transport and highways, in India's Rajya Sabha earlier today. [30/08/07]
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