Shipping Ministry provides Rs 22cr for Chennai Port's Bunkering terminal

CHENNAI:

Shipping ministry has provided a grant of Rs 22 Crore under Sagarmala initiative for developing a bunkering terminal in Chennai Port which be in operational from September 2019.

The proposed Bunkering terminal is expected to be a viable proposition considering the demand for different grades of Bunker fuels for ships calling at the new Government and Private Ports like Kamarajar Port, Kattupalli Port and Krishnapatnam Port which have developed in the vicinity of the Chennai Port, a Chennai Port release said.

As an in-house project, for constructing Bunkering Terminal,  the Contract Agreement has already been executed with  Geo Tech Threekay (JV) at a value of Rs.37.46 crores and the work has also commenced. 

The Terminal which will become operational in September, 2019 can handle 1 MTPA of liquid cargoes especially bunker fuel and is poised to compete with major International Players like Colombo, Singapore and Fujaira.