Jindal Steel & Power Ltd set to win ₹2,400-crore Paradip Port tender

JSPL beat Essar Ports Ltd and Navayuga Engineering Company Ltd to emerge the highest bidder

Naveen Jindal-led Jindal Steel & Power Ltd (JSPL) has emerged as the highest bidder on a tender floated by State-owned Paradip Port Authority to build a 25-million tonne (mt) capacity, deep draft, dry bulk cargo terminal at the Western Dock of the port located in Odisha with an investment of ₹2,392.13 crores.

In a surprising development, Adani Ports and Special Economic Zone Ltd (APSEZ) – which is fighting in multiple courts including Odisha High Court to reverse its disqualification from port tenders – did not place a price quotation when the bids were opened on Monday, government sources said. JSPL beat Essar Ports Ltd and Navayuga Engineering Company Ltd to emerge the highest bidder.