Logistics

Chennai Port Trust to sign a slew of MoUs

Our Bureau Chennai | Updated on February 22, 2021

P Raveendran (right), Chairman, Chennai Port Trust ,and S Balaji Arun Kumar, Deputy Chairman, at a press conference in connection with the Maritime India Summit 2021, in Chennai on Monday   -  Bijoy Ghosh

Development of a multi-modal logistics park (MMLP) and feasibility to run a ferry service between Chennai and Karaikal in Puducherry are some of the projects for which MoUs will be signed with various agencies by the Chennai Port Trust (ChPT) at the Maritime India Summit 2021 to be held online from March 2 to 4.

“We plan to sign 15 MoUs with various agencies at the summit,” ChPT chairman P Raveendran told newspersons while disclosing some of the salient features of the event to be inaugurated by Prime Minister Narendra Modi.

An MoU will be signed with the Tamil Nadu government (through the Tamil Nadu Industrial Development Corporation) and National Highways Authority of India (NHAI) to form a Special Purpose Vehicle (SPV) to develop the MMLP on 125 acres at Mappedu in Tiruvallur district at a cost of around ₹1,500 crore, he told newspersons.

ChPT’s investment will be land. The State government has sanctioned ₹50 crore for the project and the NHAI will provide connectivity and flyover to the Chennai-Bengaluru high-speed corridor, he added.

He also said that the ChPT will sign an MoU with the Puducherry government and the Karaikal port for a feasibility study to operate a ferry service from Chennai to Karaikal. Incidentally, this project was suggested by the Union Road Transport & Highways minister Nitin Gadkari during his recent visit to the city.

S Balaji Arun Kumar, Deputy Chairman, ChPT, said MoUs will also be signed with IIT Madras; the National Institute of Ocean Technology;and Dredging Corporation of India and will be followed by firm legal agreements, he said.

Around one lakh delegates and over 40 partner countries will participate in the event. It will be a platform for international collaboration and bring in partner countries for mutual exchange of knowledge and opportunities. FICCI is the industry partner for the summit, said Raveendran.

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Published on February 22, 2021
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