Hyundai Motor India, one of the leading passenger car exporters since inception, today renewed its Memorandum of Agreement (MoA) with the Chennai Port Trust (ChPT), for another 10 years.
Under the new agreement, which will be reviewed in the sixth year, Hyundai Motor India will export a minimum of 50,000 cars annually. Some of the other terms of the agreement are 20 days of free storage of cars at the port, priority berthing of vessels and exemption from double berthing charges.
“We decided to renew our contract with Chennai Port Trust as the terms and conditions and the facilities offered by them suit our requirements the best”, said Y.K.Koo, MD and CEO, Hyundai Motor India. “It is from here that we began our export and have been rated as the top exporter of India for 12 long years,“ he added.
The Chennai Port is strategically located from HMIL's unit, which is at a distance of just 45km. This helps car carrying trucks and trailers to turn around in just six hours at night. Also, parking slots which are allotted to Hyundai Motor India are close and in the vicinity of the berths, which reduce the travel time while loading the cars, improves speed and operational efficiency, and helps to control the operational costs. The Chennai Port also offers great flexibility with Hyundai and is able to handle more than one Ro-Ro car-carrier at any point in time. Besides, the port is equipped with a railway line, through which cars could be transported via the rail route as well.
"Hyundai Motor India and Chennai Port Trust have a long association and we are really happy that they have renewed their contract for another 10 years," said Raveendran P, IRTS, chairman, Chennai Port Trust. Chennai is one of the most modern ports in the country offering a wide range of services suited to the needs of exporters.
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