Port Wings News Network:
V.O.Chidambaranar Port, Tuticorin, on 17 January 2018 signed the concession Agreement for construction of Shallow Draught Berth for handling Construction Materials through PPP mode.
According to a media statement, the concession agreement was signed by Mr I. Jeyakumar,IRTS., Chairman, V.O. Chidambaranar Port Trust on behalf of the Port and Mr S Jagatheesan, Director of M/s.VJR Port Terminal Pvt, Ltd., on behalf of M/s.VJR Port Terminal Pvt, Ltd. in the presence of Mr Suresh S.P.Patil, Chief Engineer, V.O. Chidambaranar Port Trust and Mr D.Gnanaraj, VJR Port Terminals Pvt, Ltd.,
Shallow Draught Berth for handling Construction Materials through PPP will be developed at a cost of Rs.65.37 Crores by M/s.Indian Port Terminal Pvt, Ltd., Tuticorin. M/s.Indian Port Terminal Pvt, Ltd., Tuticorin would offer a revenue share of 36.01%.M/s.Indian Port Terminal had formed a SPV in the name of M/s.VJR Port Terminals Pvt., Ltd., to construct and operate the berth. From the date of signing of Concession Agreement, the construction would commence within three months and commercial operations would commence in 18 months.
The designed capacity of the berth is 2 MTPA. The berth would be constructed of size of 260m length and 30m width and storage space of 2.5 Hectares will be provided by the Port.The berth would be capable of handling 25,000 DWT ships with a draft of 10.3 metres.