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Gammon India agreement with Mumbai Port Trust

December 4, 2007

Gammon India has announced that Indira Container Terminal the special purpose vehicle incorporate by the consortium of Gammon and Dragados S.P.L on 03 December 2007 signed the license agreement with the Mumbai Port Trust for developing the Mumbai offshore container terminal project.

The estimate project cost is about Rs 800 crore in the initial phase of 3 years and another Rs 400 crore subsequently, thus aggregating about Rs 1200 crore. The project is on a BOT basis for 30 years, including 3 years of construction & equipping period, from the date of signing the license agreement.

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