Financial Daily from THE HINDU group of publications
Saturday, Feb 18, 2006
Financial Daily from THE HINDU group of publications Saturday, Feb 18, 2006 |
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Logistics
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Shipping SICL wins bid for second coal terminal at Ennore Raja Simhan T.E.
Chennai , Feb. 17 THE South India Corporation Ltd (SICL), belonging to the city-based Chettinad Group, has won the bid to construct and operate the second dedicated coal terminal at Ennore. It beat the Adani Group and Sical Logistics (formerly South India Corporation Agencies Ltd of the M.A. Chidambaram Group) for the Rs 300-crore project, said a source. SICL has tied up with the UK-based Portia Management for the project. It quoted the highest revenue share of 52.524 per cent, followed by Adani Group with 31.5 per cent and Sical Logistics with 22.8 per cent, the source said. The proposed terminal, to be built on a build, operate and transfer basis, will have a handling capacity of eight million tonnes a year of thermal coal and coking coal. The existing coal berth handles about 9 million tonnes of thermal coal for the Tamil Nadu Electricity Board. Once the second coal berth comes through, it would take away most of the coal from Chennai port, the source said. The new proposal will now go the Centre for various clearances, including environment clearance, the source said.
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