Mumbai: The Indian Minister of Shipping, Road Transport and Highways, TR Baalu (pictured) has declared a proposal for development of a second container terminal at Chennai Port. The project, which has been awarded to the consortium of private companies PSA (60% stake) and South India Corporation Limited Logistics (SICAL), is expected to cost an estimated Rs 492 ($111m).
The terminal, developed on a build-operate-transfer basis, will feature a continuous berth length of 832 meters, a 15.5 meter draft and is expected to have an annual capacity of 800000 teu.
The project is expected to be completed by November 2008 and is contracted be run by PSA-SICAL for the next 30 years. [13/03/07]
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