Chennai Port Trust and PSA-Sical
consortium have signed a 30 year concession agreement for the second container
terminal in Chennai.
The consortium (Port of Singapore
Authority and Sical Logistics) will operate the new terminal called Chennai
International Terminal Private Ltd (CITPL). In the terminal, PSA has a 60
per cent stake and the rest is held by Sical. The consortium will invest Rs.492
crore in the new terminal and ChPT will invest around Rs.100 crore to reclaim
land, dredging along with increasing draft in the terminal to 15.5 mt from 12 mt.
The container terminal will have a
quay length of 832 mt with a total handling capacity of one million TEUs once
fully operational. The Chennai Port will provide land to CITPL from 1 April
2007.
The container terminal is likely to be
operational by end-2008.
Also See:
PSA-Sical gets LoI
for Chennai terminal (07-Nov-06)
Related Links:
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