VISAKHAPATNAM : The state-owned Visakhapatnam Port Authority has terminated a contract with AVR Infra Pvt Ltd (AIPL), a subsidiary of Chennai-based IMC Ltd, just a few years into the 30-year concession. The agreement, which involved developing and operating the Eastern Quay Berth-10 (EQ-10) at the southern port, was canceled due to AIPL’s failure to meet the minimum guaranteed throughput (MGT) obligations, according to a senior official. IMC Ltd is India’s leading independent bulk liquid storage company.
The concession agreement for the 1.84 . . .
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