Vedanta, Abu Dhabi Ports Bid for Rs 70.56 Bn VOC Port Terminal

04 Jul 2024 CW Team

Vedanta Ltd and Abu Dhabi Ports have submitted initial bids for a Rs 70.56 billion container terminal project at V.O. Chidambaranar (VOC) Port in Tamil Nadu. This significant development marks a competitive phase in the project aimed at enhancing the port's capacity and boosting India's maritime infrastructure.

The container terminal project is part of VOC Port's expansion plans to accommodate growing trade volumes and improve its operational efficiency. The project includes the construction of state-of-the-art facilities and the integration of advanced technologies to handle large container ships and cargo efficiently.

Vedanta, a leading global diversified natural resources company, sees this project as an opportunity to diversify its portfolio and strengthen its presence in the logistics sector. Abu Dhabi Ports, a prominent player in the global ports and logistics industry, aims to leverage its expertise to develop a world-class terminal that can serve as a strategic hub for international trade.

Officials from VOC Port Authority expressed optimism about the bids, emphasising that the project is crucial for the region's economic development and will significantly enhance the port's capacity. The project is expected to create numerous job opportunities and stimulate economic growth in the region.

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