Govt approves Rs332 cr Tuticorin Port project
The Cabinet Committee on Infrastructure has approved the development of North Cargo Berth-II for handling bulk cargoes at Tuticorin Port on Design, Build, Finance, Operate and Transfer (DBFOT) basis for the period of 30 years.
To be built at an estimated cost of Rs332.16 crore, the port will have a capacity of 7.00 million tonnes per annum (MTPA). It is expected to be completed within twenty-four months from the date of award of concession.
“The project will boost the import trade in the region with a saving in freight and ship cost to the shippers. The mechanized facility will reduce the dwell time of bulk cargoes and the import will be faster and cheaper,” a Ministry release said.