V O Chidambaranar Port at Tuticorin has entered into a concession agreement with JSW Tuticorin Multipurpose Terminal Private Limited for mechanization of the port’s North Cargo Berth-III (NCB-III) for handling dry bulk cargo on DBFOT (Design, Build, Finance, Operate and Transfer) basis for 30 years.
As per the agreement, the mechanization will be executed by the concessionaire at an estimated cost of 265.15 crore and is expected to add capacity of 7 million tonnes per annum.
The concessionaire will install cargo handling equipment such as shore unloaders, and conveyors and develop the stack yard with a boundary wall, road, and stacker to enable the successful operation of the terminal for 30 years. The project is scheduled to be completed by Dec 2026, according to port officials.
Port chairman Susanta Kumar Purohit and Lalit Singhvi of JSW Tuticorin Multipurpose Terminal Private Limited signed the agreement on Tuesday.