Concession agreement inks for the conversion of the VOCP’s berth no. 9 as a container terminal

The V.O. Chidambaranar Port Authority and Tuticorin International Container Terminal Private Limited, a wholly owned subsidiary of J M Baxi Ports & Logistics Limited, have inked a concession agreement for the conversion of V.O. Chidambaranar Port’s Berth 9 into a container terminal. As per the concession agreement, the container handling facility will be developed by the concessionaire at an estimated cost of Rs 4.34 billion, with an estimated capacity addition of 6,00,000 twenty-foot equivalent units per annum. The project will be executed on a DBFOT basis, with a construction period of 21 months, and is slated to be completed by December 2024.