News / 'Victimised' PSA Sical seeks early end to box terminal concession at Indian port

Credit : PSA Chennai

Singapore-based terminal giant PSA International is seeking a premature exit from its ’debut’ container terminal concession in India, which began operations in 1999 at Tuticorin, near Chennai, now renamed VO Chidambaranar (VOC).

PSA Sical Terminals’ 30-year build-operate-transfer (BOT) contract should run through 2028, with an annual capacity of 450,000 teu, but roiled by multiple growth pain points and seeing no room for relief, PSA has approached the local arbitration tribunal for an early end, according to industry ...