According to top government sources, Adani Ports and Essar Ports have received approval from the Union Home Ministry to participate in the Rs 4,000-crore mega container terminal project in Chennai Port. Chennai Port plans to set up a mega container terminal, with a capacity of 4 million TEU. The proposed terminal has been envisaged as the largest container terminal on the countryÂ’s east coast and it will be able to handle ultra-large container vessels. Essar Ports had to seek clearance from the ministries of home, defence and external affairs after it merged its subsidiaries with its holding company. Adani Ports is said
to have secured the clearance earlier, when it was the lone bidder for the project in 2011.
Chennai Port Trust plans to invite fresh bids for the project after it rejected a lone bid in 2011 by Adani Ports, which offered just 1.5 per cent revenue share to the port.
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