Thursday, 12 August 2010

PSA-Sical banned from bidding for Tuticorin Location transformation

Maritime News
August 12, 2010 17:18
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PSA-Sical banned from bidding for Tuticorin Location transformation

PSA-Sical cannot participate in the bidding for a US$68.19 million berth project at Tuticorin port following a government directive restricting private sector monopoly in ports, reported The Hindu.

The project is for the conversion of the existing berth into a container terminal on a build, own, transfer (BOT) basis.

“According to the government policy, if there is only one private
terminal/berth operator in a port for a specific cargo, the operator of
that berth, or his associates, shall not be allowed to bid for the next
terminal/berth for handling the same cargo in the same port,” the
Tuticorin Port Trust (TPT) said.

Leading companies such as Larsen & Toubro, Afcons and DP World, have shown interest in the project.

According to the business plan of the Tuticorin port, the container
traffic forecast for the year 2014-15 will be 1.47 million TEUs against
the present capacity of 410,000 TEUs in the present container terminal
operated by PSA-Sical, a joint venture between the Port of Singapore
Authority and the Chennai-based Sical Logistics.

Source: CargoNewsAsia

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