Chennai Second Container Terminal

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In March 2007, the Chennai Port Trust (CPT) signed a concession of 30 years (including 2 years construction period) for the development of a second container terminal at Chennai port in Tamil Nadu to Chennai International Terminals Pvt. Ltd. (CITPL), under the National Maritime Development Programme (NMDP). The container terminal was designed to have a quay length of 832 mt and depth of 15.5 mts. As per the plans, the committed throughput was expected to increase from 0.15 million TEUs in the first year of operations to 0.5 million TEUs by the end of third year. The rated capacity of the new terminal is 0.8 million TEUs per annum. Please note that Chennai Port is designated as a major port. Under the contract, CITPL had the exclusive right to design, finance, build, manage and operate the new container terminal. Chennai International Terminals Pvt. Ltd., the special purpose vehicle, established to execute the project, was a joint venture between PSA (Port of Singapore Authority) International Pte Limited and Sical Logistics Limited. The consortium won the international competitive tender, conducted by CPT, by quoting the highest (45.801%) revenue share from operations to CPT. The total cost of the project was estimated to be US$ 150 million. CPT would be contributing US$ 25 million of the total project cost (around 20%) whereas the remaining (80%) would be contributed by the private players (PSA - 48%, Sical-32%). In 2010, PSA acquired all shares from Sical. The port terminal became operational in May 2009. www.projectstoday.com www.infrastructure.gov.in www.chennaiport.gov.in http://www.citpl.co.in/