P&O Ports has been selected as the preferred bidder to manage and operate the Chennai Container Terminal in Chennai, India, beating off the challenge of PSA Corporation and Hutchison Port Holdings...
The length of the exclusive concession is 30 years and it is expected that a letter of intent will be issued shortly.
Chennai is the largest port on the east coast of India and the second largest container port in the country after Jawaharlal Nehru Port (JNP), where P&O Ports already operates Nhava Sheva International Container Terminal (NSICT), India's first privatised container terminal. Container throughput at the Chennai terminal in 1999 was 333,000 TEU and growth has averaged over 12 per cent per annum for the last twelve years......
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Approx 400 words from WorldCargo News, July 2000,
page 4.
