Arihant bags Princess for Rs 99 cr PANJIM, NOV 11
The Mumbai-based Arihant Ship Breaking Co has bagged the contract for the removal of the ill-fated ship M V River Princess.
The State Disaster Management Authority (SDMA) in its over two-hour-long deliberations on Thursday finally zeroed in on the company — Arihant Ship Breaking Co.
Arihant had yesterday emerged as the lowest bidder with their quote of Rs 99 crore when the financial bids were opened for breaking the grounded vessel and towing away the scrap to seawards.
Speaking to Herald, Calangute MLA Agnelo Fernandes, who is the member of the State Disaster Management Committee, confirmed the development.
“Arihant Ship Breaking Co has been finalised as the contractor for removing M V River Princess,” Fernandes said adding that the decision came in view of the company’s lowest bid of Rs 99 crore.
On being asked as to when the work order would be issued, Fernandes said, “it is now upto the government to issue the work orders at the earliest.”
A senior official who was part of the meeting confirmed that among the shortlisted bidders — M/s Madgavkar Salvage & Smith Salvage Goa, Resolve Salvage & Fire Europe Ltd, UK and M/s Titan Salvage Pvt Ltd, — Arihant Ship Breaking was the lowest bidder as also the fact that it offered to remove the vessel within 180 days went into its favour.
It is also only bidder that had actual experience of ship breaking whereas other bidders had expertise in salvaging, the officer said.
Other three bidders not only quoted high price but also wanted more time to remove the vessel, which went against them, he said.
Madgavkar Salvage offered to remove the vessel within 240 days whereas Resolve Salvage quoted three different rates offering to employ three different techniques and wanting time till January 2012 to complete the work.
It quoted Rs 190.75 crore, Rs 245.85 crore and Rs 271.25 crore for three different techniques.
Titan Salvage, a Singaporean company that was short-listed time however quoted high price than their last bid.
While it offered to remove the vessel at the cost of Rs 125 crore some six months ago this time it quoted Rs 142 crore.
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