Tuticorin Coal Terminal headed for liquidation

Tuticorin Coal Terminal Pvt Ltd is heading for liquidation after a creditors' panel rejected the expression of interest filed by two entities to buy the bankrupt facility located at the Centre-owned VO Chidambaram Port Trust (VOCPT), making it the first public-private-partnership (PPP) project in the ports sector to meet the fate. The expressions of interest filed by Felguera Gruas India Pvt Ltd and VKS Mining Services were rejected by the lenders on valuation grounds.