International Container Terminal Services, Inc. (ICTSI) and L&T Shipbuilding Ltd. (LTSB) have signed a container port operation agreement for the management and operations of the Kattupalli Container Terminal in Tamil Nadu, India.
Contracting parties were L&T Shipbuilding Limited (LTSB), a joint venture between Larsen & Toubro Limited (L&T) and Tamil Nadu Industrial Development Corporation (TIDCO) and ICTSI subsidiaries ICTSI Ltd. and ICTS (India) Pte. Ltd.
Kattupalli terminal is ICTSI’s first venture in India, the fourth largest economy in terms of purchasing power parity. The terminal is located near Chennai in Thiruvallur District. LTSB is the developer of an integrated shipyard cum port with a 1.2 million TEUs annual capacity container terminal in Kattupalli. It entered into a management contract with ICTSI for the operation of the container terminal under construction, which is scheduled to commence operation in January 2012.
The terminal has two 350m long berths and a total terminal area of around 20 hectares in Phase 1. During the second phase of development, terminal capacity can be increased to handle 1.8 million TEUs.