CCEA approves development of 8th Berth as container terminal at Tuticorin Port in Tamil Nadu

The Cabinet Committee on Economic Affairs today approved the project “Development of Eighth Berth as container Terminal on BOT basis for a period of 30 years at Tuticorin Port, Tamil Nadu”. The estimated cost of the project is Rs.312.23 crore. The capacity of this berth is 6.00 lakh TEUs (Twenty Feed Equivalent Units) of containers per annum. The existing Seventh Berth Container Terminal at Tuticorin Port has already reached the optimum capacity of 4.70 lakh TEUs per annum. The project is expected to be completed within twenty one months from the date of award of concession.

There will be several benefits/results likely to accrue from this project. The Port shall be able to handle additional quantity of 6,00,000 TEUs with capacity to handle mainline vessels of 56,000 Dead Weight Tonnes (DWT).

This project will boost the Export and Import (EXIM) Trade by saving in time and cost for shippers. The project will lead to creation of job opportunities in the hinterland area of the Port.

Source : Equity Bulls

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