2nd container terminal at Chennai port

The Chennai Port Trust today issued a Letter of Intent to PSA Sical consortium for developing a second container terminal at an estimated cost of Rs 492 crore, on build, operate and transfer (BOT) basis.he terminal would be opened in a year's time and would handle an additional one million TEUs per annum, Union Shipping and Surface Transport Minister T R Baalu told a press meet here today.The letter of intent will be for 30 years operations," he said.enying reports that he was a "non-performing" minister in the Union Cabinet, Baalu said 93 per cent of the work in the Prime Minister's Golden Quadrilateral project had been completed.uring the NDA government's five-year tenure, only 42 per cent of the work was done, he said, adding that after he took over as Surface Transport Minister, 51 per cent of the work was completed in two-and-a-half years.he delay in completing the project was not due to his ministry but because of cases pending in courts regarding land acquisitions, he said.