New bids for Chennai box terminal
Chennai Port has invited fresh bids for its Mega-Container Terminal after changes to the terms and conditions of the concession pushed the forecast cost up to $787m.
The Port Trust intends to triple its investment to $349m, with the remaining $43m financed by the operator.
The Port Trust will now build the $218m breakwater, as well as investing the $13.12m needed for dredging, land reclamation and tug provision.
The private operator, for its part, will be responsible for outfitting the terminal. PSA is now expected to enter a bid, having previously been barred.
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