Cost of Chennai container terminal hits $757m

The cost of the mega container terminal at Chennai port has increased by nearly 21 per cent to US$757 million. The original cost was $626 million.
The increase is mainly due to dredging, which will now be taken up by the Chennai Port Trust instead of the private operator.
The share of the port trust in the project will triple to about $328 million and the balance will be brought in by the private operator, according to the port trust chairman K Suresh.