April 11, 2018 [Ship & Bunker] - The Chennai Port Trust is looking to develop new bunkering facilities as part of its planned investments for the coming year.
Local media reports the Trust has a range of projects under consideration, including the construction of a bunker berth at the south-eastern Indian port.
The project is valued at Rs 44 crore ($6.7 million) for which the Letter of Award has already been awarded, Time of India reports.
The move follows a difficult year for the Indian bunker industry, which in 2017 had to weather a period of uncertainty after the Indian Government imposed an 18% Goods and Services Tax (GST) on all bunker deliveries – a rate that has since been revised to 5%.
Article republished with permission from Ship & Bunker.
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