CHENNAI: In a bid to cater to vessels carrying larger cargoes, VOC Port Authority has signed a concession agreement with JSW Tuticorin Multipurpose Terminal Private Limited for mechanisation of north cargo Berth-III (NCB-III) of VOC Port for handling dry bulk cargo on Design Build Finance Operate and Transfer (DBFOT) basis for a period of 30 years at an estimated cost of Rs 265 crore.
The agreement was signed between Susanta Kumar Purohit, Chairperson, VOC Port and Lalit Singhvi, Director and CFO, JSW Tuticorin Multipurpose Terminal Private Limited, on Tuesday.
Purohit said the bulk terminal with a length of 306 metres and draft of 14.20 metres would be able to cater to Post-Panamax size vessels with DWT of 80,000 tonne, thereby, facilitating importers to reap the benefit of economics of scale.
The proposed dry bulk terminal will handle cargos such as coal, limestone, gypsum, and rock phosphate. This project is expected to attract more investments and pave the way for economic development of the region, creating direct and indirect job opportunities for nearly 500 people.
JSW will mechanise NCB-III by installing cargo handling equipment such as shore unloaders, conveyors and develop the stack yard with a boundary wall, road, and stacker to enable successful operation of the terminal for 30 years. The project is expected to be completed by December 2026.