Swiss challenge auction for Indira Terminal dues draws no bids
AVIATION & AIRPORTS

Swiss challenge auction for Indira Terminal dues draws no bids

A Swiss challenge auction aimed at settling the unpaid dues of Indira Container Terminal (ICTPL) has failed to draw any bidders. The auction, intended to resolve long-standing financial issues, was launched to attract offers for ICTPL?s settlement of dues. However, despite efforts to attract interest, no bidders came forward.

ICTPL has been grappling with financial troubles, which include unpaid dues to the Mumbai Port Authority (MbPA). The terminal, a joint venture between Gammon Infrastructure and Spain's Dragados SPL, has struggled to operate effectively due to various challenges, including underutilization and delays in project execution.

The Swiss challenge auction process is designed to allow third parties to offer bids, with the original bidder given the opportunity to match or better the highest offer. The failure of this auction now raises concerns about the next steps for ICTPL and its debt settlement plan.

The MbPA and ICTPL's stakeholders are likely to explore alternative options to resolve the financial crisis. The port authority is expected to look for new bidders or restructure the dues to facilitate the terminal?s recovery.

The lack of interest in the auction reflects the broader challenges facing the terminal, with its future now uncertain. Stakeholders are keenly watching how ICTPL and the authorities will navigate this financial impasse in the coming months.

A Swiss challenge auction aimed at settling the unpaid dues of Indira Container Terminal (ICTPL) has failed to draw any bidders. The auction, intended to resolve long-standing financial issues, was launched to attract offers for ICTPL?s settlement of dues. However, despite efforts to attract interest, no bidders came forward. ICTPL has been grappling with financial troubles, which include unpaid dues to the Mumbai Port Authority (MbPA). The terminal, a joint venture between Gammon Infrastructure and Spain's Dragados SPL, has struggled to operate effectively due to various challenges, including underutilization and delays in project execution. The Swiss challenge auction process is designed to allow third parties to offer bids, with the original bidder given the opportunity to match or better the highest offer. The failure of this auction now raises concerns about the next steps for ICTPL and its debt settlement plan. The MbPA and ICTPL's stakeholders are likely to explore alternative options to resolve the financial crisis. The port authority is expected to look for new bidders or restructure the dues to facilitate the terminal?s recovery. The lack of interest in the auction reflects the broader challenges facing the terminal, with its future now uncertain. Stakeholders are keenly watching how ICTPL and the authorities will navigate this financial impasse in the coming months.

Next Story
Infrastructure Transport

NHAI launches strategy to monetise national highway assets

The National Highways Authority of India (NHAI) has announced its first Road Asset Monetisation Strategy, aimed at unlocking the value of operational national highway assets and expanding private sector participation through Public-Private Partnerships (PPPs). This move marks a major shift towards market-driven infrastructure funding and is part of the Government of India’s broader Asset Monetisation Plan for 2025–30. The strategy outlines a structured framework for capital mobilisation using models such as Toll- Operate-Transfer (ToT), Infrastructure Investment Trusts..

Next Story
Resources

Godrej Enterprises Boosts EV Growth with Local Tooling Solutions

As India’s electric vehicle (EV) market experiences unprecedented growth, the tooling business of Godrej Enterprises Group is playing a critical role in enabling the sector’s supply chain with high-precision, locally manufactured solutions. With the automotive industry rapidly pivoting towards EVs, demand has surged for new engines, battery enclosures, and precision-formed sheet metal parts—all requiring advanced tooling systems. Godrej Enterprises Group has enhanced its tooling capabilities to meet these evolving demands. The business has focused on delivering high-precision dies a..

Next Story
Real Estate

Mumbai Property Registrations in H1 2025 Hit 10-Year High

Property registrations in Mumbai touched a decade-high in the first half of 2025, with 75,982 units registered between January and June, a 5 per cent increase over the same period in 2024. According to data from the Department of Registrations and Stamps (IGR), Maharashtra, the corresponding revenue rose by 15 per cent to Rs 67.27 billion crore, the highest in ten years, as per Knight Frank India. June 2025 recorded 11,586 property transactions, slightly lower than 11,673 in June 2024, marking a marginal 1 per cent decline. However, registration revenue for the month increased by 2 per ce..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?