Chennai Port to develop Dry port and logistics hub by 2015
The Chennai Port Trust is developing an Integrated Dry Port & Multi-modal Logistics Hub near Sriperumbudur. The estimated cost is INR 415 crore for the project. It will be having following components Inland Container depot (ICD) / Off dock Container Freight Station (CFS), Container Yard, Connectivity, Trade Centre, warehouses for containerized cargos like leather garments, Textiles, Automotive components & Electronic hardware. To add, Off-dock CFS will have onsite Customs Clearance facility, Daily Shipping Times reports.
Government had approved the proposal for acquiring 125 acres of land allotted by State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) of GoTN and an amount of INR 100.136 crore was paid for acquiring the land on 99 years lease basis. Interestingly, the lease agreement with SIPCOT executed and the facility is to be offered for development through Public Private Partnership (PPP) mode. Also, Detailed Project Report (DPR) was approved and Transaction Advisor had been appointed while Consultant was appointed for fixation of Upfront Tariff Overall Project completion is estimated by June 2015.