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Thoothukudis V O Chidambaranar (VOC) Port Authority has assumed control of the container handling berth previously operated by PSA SICAL Terminals Ltd, following the latters premature exit on February 28, 2025. The port authority plans to convert the facility into a multipurpose cargo berth. However, the transfer of container handling equipment, including quay cranes, remains unresolved due to pricing disputes. ASV Associates, hired for asset valuation, estimated the equipment’s worth at ?24 crore as scrap, while the port authority’s internal assessment valued it at around ?20 crore. Under the original build-operate-transfer (BOT) agreement, PSA SICAL was to transfer all installed equipment to the port authority for free after the 30-year license period, which was set to end in 2028. PSA SICAL, however, exited three years early. Given the aging equipment, the port authority is reluctant to purchase it and has only taken over the berth itself. The berth, featuring a 370-meter quay, 11.7-meter draft, dedicated approach road, and a 100,000-square-meter storage area, will now handle multipurpose cargo. A formal inauguration was held on Monday in the presence of officials from Customs, port authorities, terminal operators, and port users. In the short term, the berth will accommodate clean cargo vessels waiting at the port’s outer anchorage. For the next fiscal year, the port authority plans to hire an operations and maintenance (O&M) operator to resume container handling at the facility. |
