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The company has entered into a 37% revenue sharing agreement with the Port management for this project and this is considered to be one of the highest in the industry in the recent times.
Kamaraj Port's Chairman and Managing Director M A Baskarachar said that while ADANI Ennore Container Terminal Pvt. Ltd, company floated by Adani Ports and SEZ Ltd, will invest Rs 1,270 crore to construct berths and equipments, the Port will invest around Rs 300 crore in dredging and to create rail and road networks.
He added, that the terminal which will come in 36.5 hectares of land will have two berths and first one will be ready in 27 months, while the second berth will be ready in two years. When the terminal goes on full stream, it can handle 1.4 million TEUs (twenty equivallent unit) every year.
According to him, the terminal can cater to the manufacturing industries in and around Chennai, especially automobile industries. He noted, the Port last year handled 2 lakh cars and this year it is expected to close with around 2.5 lakh cars, besides it also handles trucks of Ashok Leyland.
"So far we have been catering only to export, now with the terminal imports can also be handled for the OEMs, besides the terminal can also be a transshipment terminal." Auto majors including Nissan, Toyoto, Ford, Honday and Ashok Leyland have been using the terminal.
He noted, the draft (depth of the berth) of the berths will be 14 meters and cab be expanded to 19 meters in the future. This kind of draft can handle any current generation and future generation vessels.
Adani Ports emerged as the highest bidder to build the container terminal at Ennore, against another bidder, DP World. Third company, Singapore Port Authority did not participate in the final financial bid.
Adani offered a revenue share of 37% beating DP World, which offered 27%. The official said totally 11 companies have shown interest in the technical bid, however only three companies came to financial bid, earlier.
