According to media reports, the consultant for the Rs 3,700-crore mega container terminal project in Chennai Port (ChPT) advised the port to accept the revenue share offered by Essar Ports.
Essar Ports, which was the lone bidder for the project, offered 5.25 percent revenue share, which the port considers to be low.
Despite the low revenue share, the consultant is learnt to have suggested the port to accept it because the company is the lone bidder for the project.
The selected bidder would be required to invest on berth and breakwater construction, reclamation of back-up area, handling equipment, and other landside infrastructure at an estimated cost of Rs 3,125 crore. ChPT would bear the expenditure for dredging, floating craft and navigational aids.
The proposed terminal would come up at the northern end of Bharathi Dock, which would have two new breakwaters with total length of 4.5 kilometer (km) and a continuous quay of 2 km.
The terminal proposes to have 22-metre alongside draught to handle ultra-large containerships of over 15,000 Twenty Foot Equivalent Unit (TEU) capacities.
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