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N. Ramakrishnan

Chennai , June 8

THE IMC group-Larsen & Toubro combine is the frontrunner to bag the contract to construct the liquid cargo terminal at Ennore Port, according to reliable sources.

The board of Ennore Port Ltd, which manages the port on the northern outskirts of Chennai, is expected to clear the IMC-L&T bid later this month after which the Shipping Ministry's approval will be sought for, according to the sources.

The project is to construct a terminal at Ennore Port with a capacity of three million tonnes a year to handle liquid cargo. The estimated cost of the project is Rs 200 crore and it will take about 18 months to complete the terminal from the date of the contract being awarded.

According to the sources, the IMC-L&T bid was better in terms of the percentage of gross revenues it would share with the port than the bid from Adani Ports.

IMC is a leading bulk liquid storage terminal service provider with terminals at almost all the major ports in the country with a total storage capacity of 710,000 kl.

The proposal is to construct the terminal on a build-operate-transfer basis where the terminal operator would share a percentage of the gross revenues with the port.

The marine liquid cargo terminal will be the first step for Ennore Port to transform itself into a multi-cargo port. The port also expects to decide on the contractor who would construct the iron ore berth and another coal berth and award the contracts within the next three months.

At present, the port has berths to handle coal for the Tamil Nadu Electricity Board. It also handles iron ore and some liquid cargo through temporary facilities.

The Ennore Port Ltd has also commissioned a study on the feasibility of constructing a terminal to handle containers. The idea is to put in place a facility to handle at least one million TEUs (twenty foot equivalent units).

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