Karnataka has achieved a major milestone in its port-led development strategy, with three cargo berths attracting record-breaking bids under the Renovate, Operate, Maintain and Transfer (ROMT) model. The projects, awarded through a competitive bidding process, underscore strong private sector confidence in the state’s maritime sector.
Anuradha Holdings Pvt Ltd emerged as the highest bidder for the Karwar Port berth, quoting a royalty of ₹212 per tonne for a 15-year concession period. Meanwhile, Chowgule EPC Pvt Ltd secured the Old Mangalore Port (Bengre Side) berth with a bid of ₹116 per tonne for a 30-year concession.
For the Old Mangalore Port (City Side) berth, Hasan Hajee & Co. quoted ₹40 per tonne over a 30-year period to emerge as the top bidder. The firm is an established stevedore at New Mangalore Port and a vendor for KIOCL Ltd.
The Karnataka Maritime Board structured the bidding process with royalty per tonne as the sole evaluation criterion, ensuring optimal value realization. Each berth drew three competitive bids, with the quoted royalties significantly surpassing benchmarks from other non-major ports. For comparison, Mahathi Cuddalore Port and Maritime Pvt Ltd had agreed to a royalty of ₹55 per tonne for a project under the Tamil Nadu Maritime Board—highlighting Karnataka’s superior returns.
Officials credited streamlined approvals via institutions such as the State Level Single Window Agency (SLSWA) and the Public Private Partnership Appraisal Committee (PPPAC) for enabling a transparent and efficient tendering process.
Transaction advisory firm Black Brix played a key role in structuring and executing the bids. According to the firm, over 90 percent of non-major port transactions in recent years have been successfully concluded under its advisory, contributing to improved competitiveness and alignment with global best practices.
State officials noted that the successful bidding process is expected to catalyse further investments, strengthen Karnataka’s maritime ecosystem, and accelerate economic growth in the region.