JSW Infrastructure Ltd. has announced that its subsidiary, JSW Tuticorin Multipurpose Terminal Pvt., has entered into a concessional agreement with the VO Chidambaranar Port Authority.
The agreement is for the development and mechanisation of North Cargo Berth-III to facilitate the handling of dry bulk cargo in a Public-Private Partnership mode, the company said in a statement on Wednesday.
The concession agreement signed on July 2 comes after the company received the Letter of Award for the project's development at VO Chidambaranar Port in Tuticorin, situated approximately 600 km south of Chennai. Previously known as 'Tuticorin Port Authority', VO Chidambaranar Port is one of the significant ports in the area.
The project comprises development and mechanisation of a 7 MPTA cargo berth on Design, Build, Finance, Operate and Transfer basis, at the Port.
JSW Tuticorin Multipurpose Terminal Pvt. would leverage its operational capabilities of handling bulk products and increase its cargo share on the Eastern coast, a press release said on Wednesday.
The collaboration with the VO Chidambaranar Port Authority also gives access to the rich hinterland, which has a diverse cargo profile including dry bulk, coal, limestone, gypsum, rock phosphate, among others.
(With Inputs From PTI.)
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