Sical consortium to build iron ore terminal
Sical Logistics on Monday said the Ennore Port Ltd has chosen the Sical-led consortium to build an iron ore terminal at Ennore port.
By PTI |
CHENNAI: Sical Logistics on Monday said the Ennore Port Ltd has chosen the Sical-led consortium to build an iron ore terminal at Ennore port.
A release said here on Monday that the operations of the project, estimated to cost Rs 5.50 billion, are scheduled to begin in FY 2008-09.
The iron-ore terminal will be developed on a Build-Operate-Transfer basis for 30 years including the construction period. The terminal will have a capacity for 12 million tonnes of cargo per year, expandable to 15 or 20 million tonnes per year.
The project is expected to generate a revenue of Rs 2 billion in annual revenue and will be implemented on a revenue sharing basis.
"Iron Ore exporters in Southern India will soon get a world class terminal to berth cape size vessels with fast loading rates that conform to international benchmarks," Sical Logistics Vice Chairman Ashwin Muthiah said.
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"The Ennore Port Terminal will open up major possibilities, both in terms of direction and volume of movement, given its location on India's eastern coastline, close to the strong demand centres in the Asia Pacific," he said.Start a SIP with as low as ₹500 with ET Money App!
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