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Chennai Port offers facilities, hefty concessions to edible oil trade

Date 11-Mar-2016
Subject Chennai Port offers facilities, hefty concessions to edible oil trade

CHENNAI : Mr Cyril C George who took over as Chairman of the port on March 7th, chaired a meeting of edible oil importers and tank operators and announced additional infrastructure facilities in the Port premises and volume based concessions in wharf charges in a bid to boost edible oil trade from the port which had touched 1.2 million tons this year.

A 12 per cent volume increase in edible oil imports is registered every year in the port for quite some time.

Chennai Port will provide land in the port premises for the traders to put up storage tanks and authorities will provide connectivity from the tank to berths. The current land policy which stipulates five year tenure for such facilities will be waived and tanks will be permitted to continue indefinitely. Volume based concessions in wharf charges have been announced if the trader exceeds 80 per cent of volume of imports he had achieved during the previous year.


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