India port to convert berth into container terminal
Chidambaranar Port at Tuticorin, anticipating an increase in box traffic, plans to convert its eighth berth into a container terminal on a BOT basis for a period of 30 years, reported The Hindu.
The port expects to handle 500,500 TEUs this year.
The estimated project cost is US$56.37 million and it would facilitate a capacity of 6 00,000 TEUs.
Handling operations at the terminal would commence from the middle of October. The project would be completed and the facilities would be fully operational within 18 months, according to a port statement.
Dakshin Bharat Gateway Terminal, Mumbai, an SPV incorporated by ABG Container Handling, Mumbai signed the concession agreement with the port trust for the project.
The port accepted the highest gross revenue share of 55.19 per cent offered by ABG.