Chennai Port Trust (ChPT) is reportedly renegotiating the revenue share with Adani Group for the proposed Rs 3,500-crore mega container terminal project.
It is learnt that the port trust is not satisfied with the revenue share offered by the group for the contract and hence is seeking a higher share.
Adani Group has reportedly offered a revenue share of 5.22 percent, which the ChPT felt was too low considering the huge potential the facility could have in future.
Meanwhile, the port management is also in the process of renegotiating revenue share with the Chennai-based Indian Molasses Company (IMC) bidder for the contract to construct and manage the barge handling jetty at the port.
It may be recalled that under the Public-Private-Partnership (PPP), the private player will develop, design, engineer, finance, construct, operate, maintaining and also market the facility to potential customers. The company will be offered 150 meter of quay length for a period of 30 years.
The port management has formed a negotiation committee comprising various trustees of the ChPT for holding talks with the Adani Group and IMC.
The port already has a 35 meter quay length barge facility, which is used to supply bunker (furnace oil and high speed oil) to ships anchored in mid-sea. This facility handled nearly 1,00,000 tonne of bunker and water (for crew on board the ships at anchorage) last year.
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