CHENNAI: In a move to unlock the commercial potential of its minor ports, the state government has signed a memorandum of understanding with Mahathi Cuddalore Port and Maritime Pvt Ltd to operate the Cuddalore port under a public-private partnership model.
The agreement, formalised on Saturday at the secretariat in the presence of CM MK Stalin, marks a significant step in TN’s strategy to expand maritime infrastructure and attract private sector participation in port operations.
The port operator was selected through a competitive process after the Tamil Nadu Maritime Board issued an expression of interest inviting private firms to operate the port.
Hyderabad-based Mahathi Infra Services Pvt Ltd was chosen as the preferred bidder, and has incorporated a special purpose vehicle (SPV) – Mahathi Cuddalore Port and Maritime Pvt Ltd – to undertake the project.
The operationalisation of the Cuddalore Port is expected to enhance the state’s coastal cargo handling capacity and improve multimodal connectivity in the central coastal region.
Senior government officials, including Finance Minister Thangam Thennarasu, Public Works and Ports Minister EV Velu, Chief Secretary N Muruganandam, and Public Works and Ports Secretary J Radhakrishnan, were present at the ceremony.
While the terms of investment and operational timelines have not yet been disclosed, sources indicated that the state expects the project to attract private capital and reduce fiscal pressure on port development.
The MoU comes amid a broader state push to improve logistics and port-linked infrastructure, as Tamil Nadu positions itself as a gateway for industrial exports and coastal shipping on India’s eastern seaboard.