Nagapattinam port to be in private-public tie-up mode
Thursday, 23 February 2012 | 14:11
The minor port at Nagapattinam is to be developed as an all weather, deep water, direct berthing, green field port in public-private partnership mode.
The Tamil Nadu Government has given administrative sanction to the proposal by the Tamil Nadu Maritime Board. Through an order dated February 20, the Finance Ministry has cleared the proposal with the private partner to be identified through a competitive bidding process.
The IIT-Madras had carried out a study of the proposal and has estimated that the project could cost over Rs 380 crore. The Kochi-based MIR had been appointed as consultants. Once commissioned, the port could generate a revenue of Rs 20 crore with an annual cargo handling of about 10 lakh tonnes. This could be expanded in stages to the fifth year to handle over 60 lakh tonnes to generate over Rs 120 crore.
Source: The Hindu Business Line
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