Transstroy-OJSC Consortium awarded US$81 million project on build-operate-transfer basis
Transstroy-OJSC Consortium has been named as the successful candidate for the contract to build two new general cargo berths at the Indian Port of Tuticorin.
The Tuticorin Port Authority has awarded the project to the Hyderabad-based company on a build-operate-transfer basis for an estimated US$81 million, according to the JOC. The Transstroy-OJSC Consortium agreed a 30-year operating concession.
Upon completion, the capacity of the southeast Indian port will be raised from 33.34 million tonnes to 85.73 million tonnes, said port officials, to help Tuticorin meet the growing bulk cargo requirements of its hinterland industries.
The consortium will provide the port authority with a 30 percent revenue share of the proposed north cargo berth IV, and a 20 percent share of the second berth, to be known as the shallow draught berth.
Last August, the Tuticorin Port Authority, renamed the VO Chidambaram Port Trust, awarded a contract to build and operate a second container terminal at the port to the ABG Group, which will boast an estimated annual capacity of 600,000 TEU.
Tuticorin Port, the second-largest port in Tamil Nadu and fourth-largest container terminal in India, handled 28.3 million tonnes of cargo during the fiscal year 2012-13.