DEVELOPMENT OF CHENNAI AS CONTAINER HUB PORT
Chennai Port
on the East Coast has been identified for development as container
hub port. To achieve this, the existing container terminal of
600 mtrs. length was handed over to a consortium of M/s. P&O
Ports (Chennai Container Terminal Ltd.) on 30.11.2001 on a lease
period of 30 years. Chennai Port has invested Rs. 36 crore on
further expansion of the Chennai Container Terminal by 290 mtrs.
and on a Container Freight Station. These works after completion
will be handed over to Chennai Container Terminal Ltd. which has
committed to an investment of US $ 100 million within a period
of 5 years on creation of infrastructure like state-of the-art
equipment like Gantry cranes and on civil structures.
There
is no proposal of Chennai Port Trust to invest any money afresh
during the year 2002-03 as the container terminal has been leased
out, except completing the on going civil work at an approximate
cost of Rs. 4 crore which is already included in the contract.
As per the Licence Agreement, M/s. Chennai Container Terminal
Ltd. will have to bring the mainline vessels and achieve atleast
20 per cent of the containers as Non-transhipment cargo within
a period of three years.
This
information was given in Lok Sabha today by the Minister of State
for Shipping Shri Shripad Y. Naik in a written reply to a question
by Shri P.D. Elangovan.
