THE VO Chidambaranar Port Authority (formerly the tuticorin Port Trust) has signed a concession agreement with Tuticorin International Container Terminal Private Limited (TICTPL) to convert Thoothukudi Port's Berth No 9 into a container terminal, reports New Delhi's Times of India.
The handling facility in India's eastern coast will be developed by TICTPL, a wholly-owned subsidiary of JM Baxi Ports & Logistics Limited, at an estimated cost of INR434.17 crore (US$54 million), with an estimated annual capacity addition of 600,000 TEU.
This will be the third container terminal to open at the port. The project will be executed on a Design, Build, Finance, Operate and Transfer (DBFOT) basis with a construction period of 21 months. Completion is scheduled by December 2024.
The terminal will have a length of 370 metres and draft of 14.2 metres, allowing vessels up to 8,000 TEU to attract more investments and bolster the economic development of the region.
The port, the second largest container handling port in Tamil Nadu, handled 760,000 TEU in 2021-22 and it is expected to handle 1.16 million TEU by 2024-25 and two million TEU by 2034-35, according to port officials. Chennai port is the biggest at 1.5 million TEU a year.
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The handling facility in India's eastern coast will be developed by TICTPL, a wholly-owned subsidiary of JM Baxi Ports & Logistics Limited, at an estimated cost of INR434.17 crore (US$54 million), with an estimated annual capacity addition of 600,000 TEU.
This will be the third container terminal to open at the port. The project will be executed on a Design, Build, Finance, Operate and Transfer (DBFOT) basis with a construction period of 21 months. Completion is scheduled by December 2024.
The terminal will have a length of 370 metres and draft of 14.2 metres, allowing vessels up to 8,000 TEU to attract more investments and bolster the economic development of the region.
The port, the second largest container handling port in Tamil Nadu, handled 760,000 TEU in 2021-22 and it is expected to handle 1.16 million TEU by 2024-25 and two million TEU by 2034-35, according to port officials. Chennai port is the biggest at 1.5 million TEU a year.
SeaNews Turkey