India's largest car exporter Hyundai Motor India Ltd (HMIL) on Thursday renewed its Memorandum of Agreement (MoA) with Chennai Port Trust, a statement said.
The company said the MoA is for 10 years and would be reviewed in the sixth year.
According to HMIL, as per the new agreement, it has committed to export 50,000 cars per annum while getting 20 days of free storage of cars at the port, priority berthing of vessels and exemption from double berthing charges.
"We decided to renew our contract with Chennai Port trust as the terms and conditions and the facilities offered by them suit our requirements the best," said HMIL's Managing Director and CEO Y.K.Koo.
--IANS
vj/vd
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app