This is the first instance of a private container terminal operator seeking to re-negotiate a key term after it was awarded on a pre-agreed method.
PSA-SICAL Terminals Ltd, the entity that operates India’s fourth largest container terminal, at the Union government-owned Tuticorin port, will seek government approval to shift from a royalty format to a revenue-sharing arrangement for the remaining 22 years of its 30-year contract that started in 1999.