India’s Tuticorin Port Authority on Thursday awarded a contract to Hyderabad-based Transstroy-OJSC Consortium for the construction of two new general cargo berths at the southeastern port.
The project, to be developed on a build-operate-transfer basis with a 30-year operating concession, is estimated to cost $81 million.
“After completion of the project, the capacity of the port will increase from 33.34 million tons to 85.73 million tons to cater to the bulk cargo requirements of hinterland industries,” port officials said.
Officials said the consortium offered a 30 percent share of revenue for the proposed “north cargo berth IV” and a 22 percent share for the other facility, called the shallow draught berth, as annual royalty to the landlord port.
Tuticorin, recently renamed V.O.Chidambaram Port Trust, currently operates one container terminal, managed by a consortium led by Singapore’s PSA International. The port authority in August last year awarded a contract to domestic port-infrastructure developer ABG Group to build and operate a second terminal, with an annual capacity of 600,000 20-foot-equivalent units.
The port handled 28.3 million tons of cargo in fiscal year 2012-13, which ended March 31, 2013, with the number of export and import containers amounting to 479,000 TEUs.