Chennai puts new terminal plans on hold

The Chennai Port Trust has decided not to develop a new 4m teu container terminal for at least two years, according to a source quoted by Chennai-based newspaper The Hindu.

The project was approved by the government in 2010 but progress has since stalled due to lukewarm interest from investors.

An industry source in India told CM: “The key reasons for deferring the proposal have been prolonged heavy congestion at the port due to infrastructure scarcity just outside the port, poor response from developers and failure to attract a good bidder.”