Ennore Port to set up Rs 1,270-cr container terminal: CMD

Ennore Port Ltd has come up with a plan to develop a new container terminal at its facility near Chennai entailing an investment of Rs 1,270 crore and is awaiting approval from the Cabinet Committee on Economic Affairs for it, a top company official said today.
We are waiting for the CCEA approval. Investments will be Rs 1,270 crore. The RFPs (Request For Proposal) are out. Right now, L&T and Adani have shown interest (to develop the container terminal)," Ennore Port Ltd Chairman and Managing Director M A Baskarachar told reporters here.
He was speaking after exchanging documents with US car major Ford India, Executive Director (Manufacturing) Tom Chacklackal for exports of its cars from Ennore Port, in the presence of Union Shipping Minister G K Vasan.

Baskarachar said the Port recently began operating transhipments of cargo in its port, aimed at generating additional revenue.
Noting that containerised cargo transportation is now becoming a global trend, Vasan said the port has come up with a proposal to develop a container terminal at an estimated cost of Rs 1,270 crore with a capacity of 1.4 million TEUs.It would be set up on 35 acres with a quay length of 730 metres.
"The project is targeted for award in 2013-14 along with multi-cargo terminal," Vasan said.

On Ennore Port's cargo handling capacity, he said it was expected to handle 24 MMT in the current fiscal as against 17.89 MMT registered during the previous financial year.

On the Land Policy released by the Shipping Ministry,Vasan said the Policy was introduced with the intention of making Indian ports on par with International ports.
"I am happy the Land Policy was introduced when I am the Minister. It is going to help all 12 major ports of the country. The policy is aimed at bringing in transparency in Ports which I wanted. For the first time, a Land Policy has been approved by the Cabinet", Vasan said.
With the introduction of the Policy there would be more involvement and work for chairmen of Ports. "You will see our Indian Ports at par with International ports. You will see the profits of our ports also going up.", he said.

The Shipping Ministry recently unveiled guidelines for the land policy for all 12 ports that would help them take up various projects.
On other projects undertaken by Ennore Port, Vasan said it would sign an agreement with IndianOil Corporation Ltd to set up LNG import storage and re-gasification terminal port at an estimated cost of Rs 4,500 Crore. "The capacity of the LNG terminal is five million metric tonnes per annum. IOCL plans to commission the project by 2016-17", he said.