VO Chidambaranar Port here has signed a concession agreement with Transstroy - OJSC Consortium to develop north cargo berth-IV and for construction of shallow draught berth to handle cement and related raw material.
The port is all set to increase capacity from 33.34 million tonnes to 85.73 MT by implementing various capacity augmentation projects in the inner harbour to cater to bulk cargo needs of hinterland industries, a port release said.
The agreement signed on Wednesday would be to implement the projects through the public private partnership (PPP) mode on a DBFOT basis (design, build, finance, operate and transfer). The agreement was signed by Port chairman S Natarajan, and Prasanna Kumar Palla, senior deputy vice president of Hyderabad-based Transstroy - OJSC Consortium, the release said.
The port has accepted the highest gross revenue share of 30 per cent offered by Transstroy for developing the north cargo berth IV and 22 per cent for project construction of shallow fraught berth offered by the Hyderabad-based company. The estimated cost to develop the north cargo berth-IV is Rs 355 crore and shallow draught berth is Rs 84.08 crore.
