New Mangalore box terminal to rise from ashes

New Mangalore Port Trust is reconsidering how to attract investors to build a new container terminal.

Initial build-operate-transfer proposals failed to get off the ground, so now the trust is contemplating building the terminal itself and then leasing it out to a private operator. The total cost is estimated at $62m.

The initial BOT project attracted interest from 13 companies, of which five were shortlisted. However, none of the shortlisted companies submitted a bid, deterred by the low maximum tariff fixed by the Tariff Authority for Major Ports.