Cabinet Committee Approves Mega Container Terminal at Chennai Port

The Cabinet Committee on Infrastructure approved today the proposal to develop a Mega Container Terminal at Chennai Port at an estimated cost of Rs.3686 crores. This was informed by Union Minister of Shipping, Shri G.K. Vasan in New Delhi.

The project will be developed under PPP mode. The investment by the concessionaire will be Rs.3125 crores and Chennai Port will invest Rs.561 crores. The Mega Container Terminal will have the capacity to handle 4 million TEUs per annum. There has been sharp growth in container volume in Chennai Port in recent years. At present there are two container terminals with a capacity of 2 million TEUs.

This terminal will have the following advantages:

? It can handle ultra large container vessels and deep draft vessels.
? Chennai Port can compete with international ports and reduce need for transshipment from Singapore and Colombo.
? It will boost import and export from the region.
The first phase of the project will be completed by 2013 and the full project will be completed by 2017.