Wednesday, Feb 16, 2005
Wednesday, Feb 16, 2005 |
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Kochi
By K. A. Martin
KOCHI, FEB. 15. The Prime Minister, Manmohan Singh, will lay the foundation stone for the proposed International Container Transshipment Terminal (ICTT) here on Wednesday. With the laying of the stone, the Prime Minister will kick off a slew of grand projects that are expected to bring in a cumulative investment of Rs. 7,500 crores, including the Rs. 2,118 crores for the ICTT. An LNG regassification complex, an international bunkering facility, a ship repair complex, a port-based special economic zone, a cruise terminal and a crude handling single-buoy mooring facility are part of the integrated development plan unveiled by the Cochin Port Trust nearly two years ago.
Unique club
The ICTT is projected to change the maritime trade scene in the country with Kochi jumping into the club of ports such as Colombo, Salalah and Singapore that handle the bulk of India's transshipment business. Indian exporters are projected to save between Rs. 6,000 and Rs. 16,000 per container with the Kochi facility coming into place.
Licence agreement
Dubai Ports International with which Cochin Port Trust (CoPT) has entered into a licence agreement, will take over the Rajiv Gandhi Container Terminal (RGCT) of the Port Trust from April as a preliminary to building the ICTT facility on Vallarpadam Island. Dubai Ports was awarded the contract for promoting the ICTT project after it offered 33.30 per cent of the gross revenue in a competitive global bid. Dubai Ports will operate through its subsidiary India Gateway Terminal Private Limited on a build, operate and transfer basis.
Tenders floated
The Cochin Port Trust has floated tenders for Stage I capital dredging for the ICTT clubbing it with the annual maintenance dredging for the year 2005-06. For providing the National Highway connectivity to Vallarpadam Island, involving construction of a four-lane road about 16 kms long, a special purpose vehicle would be floated. The Port Trust is expected to have equity of 32.5 per cent of the total cost of the project of Rs. 367 crore. This also includes the cost of four-laning the 10-km Vytilla - Aroor stretch of the NH 47. Meanwhile, an Environmental Impact Assessment Study (EIA) Report in respect of ICTT by The National Institute of Oceanography (NIO) and Coastal Regulation Zone (CRZ) status report by the Centre for Earth Science Studies (CESS) are ready.
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