A consortium of Kolkata-based Ripley & Co and Bothra Shipping Services of Andhra Pradesh announced it will invest Rs 600 crore in the automation and modernization of a port berth at Haldia in West Bengal.

The stevedoring and handling company said it quoted the highest revenue share for the mechanisation of Berth No. 5 of Haldia Dock Complex, Syamaprasad Mookerjee Port, Kolkata, on a PPP basis.

"It is a 50:50 consortium and will invest Rs 600 crore for the modernisation of the berth. We already operate two more berths at Haldia," Ripley & Co Director Shoumik Bose told PTI.

He said the letter of award is expected this month.

The project will be executed on a DBFOT (design, build, finance, operate, and transfer) model with a concession period of 15 years.