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This document is a request from M/s. Vishwa Samudra Ports to the Managing Director of Bhavanapadu Port Development Corporation for the reimbursement of 0.385% of the insurance amount related to the construction of the Greenfield Port at Mulapeta. The contractor has paid three installments totaling 11.53 Crores for the insurance premium but has not yet received reimbursement after 23 months. The request is made in accordance with the contract conditions outlined in previous correspondence.

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54 views2 pages

Draft

This document is a request from M/s. Vishwa Samudra Ports to the Managing Director of Bhavanapadu Port Development Corporation for the reimbursement of 0.385% of the insurance amount related to the construction of the Greenfield Port at Mulapeta. The contractor has paid three installments totaling 11.53 Crores for the insurance premium but has not yet received reimbursement after 23 months. The request is made in accordance with the contract conditions outlined in previous correspondence.

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punna.kishorekumar
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Ref: VSP-SO/1189/APMB/2025-26/448 06 th September 2025

To,
To
The Managing Director,
Bhavanapadu Port Development Corporation Limited (Mulapeta Port)
4th Floor, IHC Corporate, Industrial Park,
Mangalagiri-522503, Guntur Dist,
Andhra Pradesh.

Dear Sir,

Sub: Construction of Greenfield Port at Mulapeta (Formerly known as Bhavanapadu) on


Engineering, Procurement and Construction (EPC) basis – Request for
reimbursement of 0.385% of insurance amount-reg

Ref: 1. Contract Agreement No.7/2022-23, Dt: 02.08.2022 entered between


APMB & M/s. Vishwa Samudra Port.
2. CEAR policy No. OG-24-1801-0402-00000087, Bajaj Allianz Insurance
Company Ltd.
2. Clause 3.4.1 of Section 6A, Volume -II of the Contract Agreement
3. Letter ref. VSP-HO/1189/APMB/2023-24/228 Dt-20.03.2024
4. Letter ref. VSP-SO/1189/APMB/2023-24/101 Dt-20.03.2024
5. Letter ref. VSP-HO/1189/APMB/2024-25/294 Dt-23.07.2024
6. Letter ref. EE(M)K/DM-1/Mulapeta Port/2024-25(3) Dt-15.02.2025
7. Letter ref. VSP-HO/1189/APMB/2023-24/284 Dt-05.03.2025

With Reference to the above subject and our letter ref.5,7 cited above, We are
taken CEAR Policy No. OG-24-1801-0402-00000087 from Bajaj Allianz General
Insurance Company Ltd for the works of Mulapeta Port as per Clause 11 of the
General conditions of Contract (Volume-III page 1271 of the signed Copy) though
the special condition provides that the G.O MS no-5 Finance dt 05-03-2014 issued
orders dispensing with mandatory insurance cover all the works ( vide condition (n)
of clause 1.0 under the other Special conditions of the contract) The said condition
also specifies that 0.385% towards insurance shall be paid to the contractor so as to
Insure the work by the contractor. The contractor had taken the insurance coverage
to the total project cost and the same was submitted to APMB and the Insurance
company has permitted to pay the premium in 4 installments.
We have requested to reimburse the Insurance premium amount paid by
the M/s. Vishwa Samudra Ports, as per the Other Special Conditions of
Contract, Item.1.0, n (Section-9 page no. 001334) “0.385% towards insurance
will be added to the bills to provide insurance for works by the contractor”.
Till date, VSP has paid three instalments and submitted the documents to
APMB. After laps of 23 months, still we are waiting for the reimbursement of
paid instalments of 11.53 Crores..

So, it is to request that please reimburse the amount as per the contract
conditions.

Thanking you and assuring you of our best services

Thanking you,

Yours Sincerely,
For M/s. Vishwa Samudra Ports

Authorized Signatory

Encl: as above

Copy Submitted to:


Copy Submitted to:
1. The Managing Director, MPPDCL.
2. The Chief Engineer, A.P Maritime Board, Vijayawada.
3. The Superintending Engineer, (Marine),APMB
4. The Executive Engineer, Marine Division, Kakinada
5. The Project Manager - Tata Consulting Engineer Ltd. (PMC)

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