Rs 3,686 cr terminal project for Chennai Port gets govt nod

CCI-PORT

New Delhi, Oct 12 (PTI) The government of India Tuesday
approved a Rs 3,686 crore mega container terminal project at
Chennai Port to be built under public-private-partnership
mode in the south indian state of Tamil Nadu.
The project, under the 'design, build, finance, operate
and transfer (DBFOT)' basis, was cleared by the Indian Cabinet
Committee on Infrastructure.
"The project has a concession period of 30 years," an
official statement said.
The terminal would handle container traffic volume of 4
million TEU per annum. The TEU (twenty foot equivalent unit)
is a measuring unit for the vessel loads. The project is
likely to be completed in seven years, it said.
"With the new terminal, Chennai Port can compete with
international ports and reduce the need for trans-shipment
from Singapore and Colombo..It will also boost trade in the
region," India's Shipping Minister G K Vasan said.
The terminal project is part of the government's Rs 1
lakh crore plan for expanding port capacity and development of
waterways.
The programme will cover Centrally-owned 13 major ports.
PTI NAM
MHM


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