Adani Ports, Essar Port vie for building mega container terminal at Chennai Port

Adani Ports and Special Economic Zone along with Essar Ports are competing to win a bid to build Rs 3,683 crore mega container terminal at Chennai Port. While Adani's base is in Mundra, the Essar group has a strong presence in Vadinar and Paradip ports. The two Indian conglomerates were the only bidders for the Rs 3,700-crore project, designed to handle four million 20-foot containers annually.

However, for the proposed ‘build, own and transfer' project, the cost of dredging, floating crafts and navigational aids - estimated at Rs 561 crore - will be borne by the port trust. Meanwhile, the private operator will invest on berth and breakwater construction, reclamation of backup area, handling equipment and other landside infrastructure at a cost of Rs 3,125 crore.

Adani Ports is now the only private port infrastructure company to operate and construct ports and terminals across six locations in India - Mundra, Dahej and Hazira in Gujarat, Marmugao in Goa and Visakhapatnam where it has recently begun construction of a coal import terminal. The Mundra port is the fourth largest commercial and top most private port in India.