V.O.Chidambarana inks Concession Agreement with M/s. JSW Tuticorin Multipurpose Terminal Private Limited for Mechanization of NCB-III for handling dry bulk cargo

The Concession Agreement has been signed between V.O. Chidambaranar Port Authority (VOCPA), Tuticorin, and M/s. JSW Tuticorin Multipurpose Terminal Private Limited for Mechanization of North Cargo Berth-III (NCB-III)  for handling dry bulk cargo on DBFOT basis for a period of 30 years, at V.O. Chidambaranar Port Authority, Tuticorin

The Concession Agreement was signed on behalf of V.O. Chidambaranar Port Authority, Tuticorin, by Shri Susanta Kumar Purohit, IRSEE, Chairperson, and on behalf of M/s.JSW Tuticorin Multipurpose Terminal Private Limited, by Shri Lalit Singhvi, Director & Chief Financial Officer, in the presence of Shri Suresh Babu, Deputy Chairperson i/c., and other senior officers of the Port and M/s. JSW Tuticorin Multipurpose Terminal Private Limited.

 As per the Concession Agreement, the Mechanization of North Cargo Berth-III will be executed by the Concessionaire at an estimated cost of Rs. 265.15 Crores, with an estimated capacity addition of 7 million tonnes per annum. The concessionaire will mechanize the NCB-III by installing cargo handling equipment such as shore unloaders, 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 expected to be completed by December 2026.

 The Port has also initiated the bidding process for dredging the NCB-III to a draft of 14.20 metres to facilitate handling of Post-Panamax size vessels. The proposed Dry Bulk Terminal will handle cargoes such as Coal, limestone, gypsum, and rock phosphate. This project is expected to attract more investments and pave the way for the economic development of the region, creating direct and indirect employment opportunities for approximately 500 people.

                Speaking on the occasion, Shri Susanta Kumar Purohit, IRSEE, Chairperson, stated that the bulk terminal with a length of 306 metres and draft of 14.20 metres would be able to cater to Post-Panamax size vessels with DWT of 80,000 Tonnes thereby, facilitating importers to reap the benefit of economics of scale.