INVC,,
Delhi,,
The Cabinet Committee on Infrastructure (CCI) has approved the project ‘Development of Mega Container Terminal at Chennai Port on Design, Build, Finance, Operate and Transfer (DBFOT) basis’ under Public Private Partnership (PPP) mode with a concession period of 30 years at an estimated cost of Rs.3686 crore. The project is expected to boost exports and imports in the region with savings in freight and ship cost to the shippers. Considering the steady growth in the container volumes at Chennai Port, the container throughput demand is expected to outstrip the available capacity of 2.0 million Twenty feet Equivalent Unit (TEUs) per annum by 2017-18.
The capacity of the proposed Mega Container Terminal would be 4 Million TEUs per annum. In addition to handling the projected volume of container traffic, the Mega Container Terminal will also be able to handle Ultra Large Container Vessels, which are expected to dominate the container trade, and thereby compete with other international ports and attract deep drafted vessels to the Chennai Port thereby reducing the need for transhipment at the Ports of Singapore and Colombo.
The construction of the project is expected to be completed within seven years from the date of award of concession.
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