The central government has laid the foundation stone for the third container terminal project at V.O. Chidambaranar Port in Tamil Nadu. The project involves conversion of berth 9 as container terminal with 0.6 million twenty-foot equivalent units per annum capacity on design, build, operate and transfer basis under public private partnership mode for a concession period of 30 years. The estimated cost of the project is Rs 3.43 billion.