Visakhapatnam Port Authority Terminates Contract for Non-Compliance
The Visakhapatnam Port Authority has terminated a contract awarded to AVR Infra Pvt Ltd, part of IMC Ltd, for the Eastern Quay Beth-10 (EQ-10) berth due to failure to meet the minimum guaranteed throughput (MGT) obligations. The contract, signed in 2010, required AVR Infra to handle 400,000 tonnes annually, but it failed to comply for six consecutive years.
Although AVR Infra received reprieve during COVID under force majeure, the port authority issued a termination notice, which will take effect by January 18, 2025, after an extended notice period.
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