The Union Shipping Minister, Nitin Gadkari, yesterday laid the foundation stone for the Rs 1,270 crore container terminal at Kamarajar Port (Ennore).
The terminal will be developed by Adani Ports and SEZ , through its newly floated company, ADANI Ennore Container Terminal.
While ADANI Ennore Container will invest Rs 1,270 crore to construct berths and equipment, the Port will invest around Rs 300 crore in dredging and to create rail and road networks.
The container terminal will come up on 36.5 ha of land and will have two berths. The first berth will be ready in 27 months, while the second will be ready in two years. When completed, the terminal will have the capacity to handle 1.4 million TEUs (twenty foot equivalent units) every year.
The draft (depth of the berth) of the berths will be 14 mtr and can be expanded to 19 mtr in the future.
Adani Ports emerged as the highest bidder to build the container terminal at Ennore, against another bidder, DP World. Adani offered a revenue share of 37 per cent beating DP World, which offered 27 per cent.
The third company, Singapore Port Authority, did not participate in the final financial bid. In all, 11 companies had shown interest in the technical bid. However, only three companies came to the financial bid.
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Container Terminal (Ennore)