According to some industry players, container traffic in the country is witnessing a negative growth.
In this backdrop, it is not surprising that the Chennai Port Trust (ChPT) failed to get any response from bidders for its much-delayed Rs 3,686-crore mega box terminal project.
Some industry players suggested ChPT to set up a multi-purpose berth-cum-cruise terminal instead of the container terminal project.
Recently, top officials of the port were discussing how to restructure the project and make it financially viable for participants.
The project has been facing a delay of 30 months and returns from it might not justify the investment, some industry players opine.
The ability of box terminal in the western coast is 13 million Twenty-foot Equivalent Units (TEU) of boxes, while it is about 11 million TEU in the east coast, some reports indicate.
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