Gammon for Mumbai Offshore Terminal Project

Thebullishtrends : Gammon India shares are trading at Rs.550. India Container Terminal Pvt Ltd,the special purpose of vehicle incorporated by the consortium of Gammon India Ltd and Dragados S.P.L has on 3rd December'07 signed the 'Licence Agreement'with the Mumbai Port Trust for developing the Mumbai offshore container Terminal Project. The estimated project cost is about Rs.800 crores in the initial phase of 3yrs and another Rs.400 crores subsequently, thus aggregating about Rs.1200 crores. The project is on BOT(Built Operate Transfer) basis for 30yrs, including a 3yrs construction & equipment period, from the date of signing the Licence Agreemtn.