Current Affairs

Arihant Front Runner to Remove River Princess

Mumbai based Arihant Shipbreaking Ltd. with its lowest bid of  99 crore is the front runner to get the job of removing River Princess that has been lying off the Candolim coast for nearly a decade now. Besides, Arihant has also offered to complete the job in 180 days.
The other shortlisted companies’ bids are not only higher, but they also asked for longer time to complete the job.

Singapore based Titan Maritime (Sea) Pvt. Ltd. offered to remove the vessel by May 2012 and quoted a price of  118 crore while Goa based Madgavkar Salvage bidding along with Singapore based Smith Salvage offered to remove the vessel in 240 days for a cost of  118 crore.
On the other hand Resolve Salvage and Fire Europe Ltd from United Kingdom both offered to complete the job in January 2012 and the amount quoted by them wa  255 crore.
The bids have now been forwarded to the government which will take a final call on the matter.

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