Posted inSCM & Logistics

Tuticorin International Container Terminal set to reduce costs and boost Forex

The inauguration of TICT marks a pivotal step in India’s maritime growth and global economic positioning.

Union Minister Sarbananda Sonowal has recently inaugurated the Tuticorin International Container Terminal (TICT). It marks a significant enhancement to the capacity of VOC Port. 

Prime Minister Narendra Modi, in a video message, praised the terminal as a vital addition to India’s marine infrastructure, featuring a deep draft exceeding 14 meters and a berth over 300 meters long. 

The TICT aims to lower logistics costs and save approximately $4 million in foreign exchange annually, while also generating over 1,200 jobs and increasing port capacity by 600,000 TEUs per year.

The PM emphasised the terminal’s commitment to gender diversity, with 40% of its workforce being women. He noted Tamil Nadu’s strategic importance in maritime trade, supported by significant investments from the Centre for further port development. 

Dedicated to the nation by Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal highlighted the project’s completion ahead of schedule as a public-private partnership success, which will enhance regional economic opportunities. 

The event also included the launch of multiple development initiatives, such as a green hydrogen project and a rooftop solar initiative valued at Rs 485.67 crore. 

This inauguration is seen as a pivotal moment for India’s maritime growth and economic positioning on the global stage.