December 03, 2008

Chennai Port Trust to construct mega container terminal

PTI reported that Chennai Port Trust would construct a mega container terminal to handle 5 million TEUS and 500,000 cars at a cost of INR 3,100 crore.

Mr K Suresh chairman of Chennai Port Trust said that the centre had given in principle approval for the project and the union environmental ministry had also cleared the project. He added that the project would come under the build, operate and transfer scheme.

Chennai Port Trust had earned a profit of INR 257.55 crore for the fiscal ending March 31st 2008 as against INR 196.98 crore for the 2007 fiscal. It registered a 7% YoY hike in cargo handling and 27.41% YoY hike in containers handling.