The VO Chidambaranar (VOC) Port in Thoothukudi plans to have a third container terminal with the current handling capacity at the two private terminals set to reach its maximum by end of this fiscal.
However, the Port Trust is in a fix on identifying the right concession model to be offered to the new operator considering that two different models — royalty and revenue share — are already in vogue at the port.
PSA SICAL Container Terminal, which has been running a container terminal since 1992, operates on a royalty-based model while the Dakshin Bharat Gateway Container Terminal (DBGT), operating since 2014, adopts a revenue-sharing model. Together, the two terminals are expected to reach a maximum capacity of 1.2 million TEUs (twenty foot equivalent units) by the end of this financial year, thus warranting a third terminal.
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