Chennai Port Trust would construct a mega container terminal to handle five million TEUS and five lakh cars at a cost of Rs.3,100 crore, its Chairman K Sureshs said here on Wednesday.
Suresh told reporters that the Centre had given 'in principle approval' for the project and the Union Environmental Ministry had also cleared the project.
The project would come under the build, operate and transfer scheme, he said.
The port trust, along with the National Highways Authority of India, would constrct an elevated express way from the port to Maduraivoil, connecting the Chennai-Bangalore National Highway at a cost of Rs.1,468 crore.
Global tenders would be called for the scheme soon,he said.This would reduce traffic congestion in the city in a big way and the project would be completed in two years.
The port had earned a profit of Rs.257.55 crore for the fiscal ending March 31 last, against Rs.196.98 crore for the previous year, he said.
The port registered a seven per cent hike in cargo handling and 27.41 per cent hike in containers handling, he said. However,there was a 1.88 per cent decline in the ships handled, he said but hastened to say that it was because the port started handling bigger ships of upto 50,000 tonnes capacity.
Suresh told reporters that the Centre had given 'in principle approval' for the project and the Union Environmental Ministry had also cleared the project.
The project would come under the build, operate and transfer scheme, he said.
The port trust, along with the National Highways Authority of India, would constrct an elevated express way from the port to Maduraivoil, connecting the Chennai-Bangalore National Highway at a cost of Rs.1,468 crore.
Global tenders would be called for the scheme soon,he said.This would reduce traffic congestion in the city in a big way and the project would be completed in two years.
The port had earned a profit of Rs.257.55 crore for the fiscal ending March 31 last, against Rs.196.98 crore for the previous year, he said.
The port registered a seven per cent hike in cargo handling and 27.41 per cent hike in containers handling, he said. However,there was a 1.88 per cent decline in the ships handled, he said but hastened to say that it was because the port started handling bigger ships of upto 50,000 tonnes capacity.