Shipping ministry sanctions funds to port for land

The Union Shipping Ministry has sanctioned Rs 100 crore to the Chennai Port Trust to procure around 125 acres from the Tamil Nadu government on a long term lease to set up a dry port and multi-modal logistics hub near Sriperumbudur Special Economic Zone.

Speaking to reporters at the sidelines of 12th Meeting of Maritime States Development Council the Union Shipping Minister G K Vasan. He added, the port trust will procure land from State Industries Promotion Corporation of Tamil Nadu (Sipcot) Ltd.

The State Government had already confirmed the land allotment a few days ago. The government will provide the land at Mapeddu on lease for 99 years to the Port Trust, which plans to develop the hub near the Sriperumbudur SEZ on Build, Operate and Transfer (BOT) basis. The private operator will build and operate the facility for a 30-year licence period.

The new dry port and logistics hub will come up near Sriperumbudur, a major centre for automobile and mobile manufacturing. The dry port will have an inland container depotôoffdock container freight station, container yard, rail and road connectivity to national rail and road network, trade centre, warehouses for containerised cargoes such as leather garments, textiles, automotive components and electronic hardware. The hub will also have onsite Customs clearance facility.