The Hindu : Business : Decision on road, rail link to Vallarpadam hailed

Online edition of India's National Newspaper
Saturday, Dec 24, 2005

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Decision on road, rail link to Vallarpadam hailed

Staff Reporter

CPT projects to be completed within four years

KOCHI: The Cochin Chamber of Commerce and Industry has welcomed the decision by the Union Government to provide budgetary support to build the road and railway link to the proposed site of the International Container Transshipment Terminal (ICTT) on Vallarpadam Island.

A press release issued by the Chamber said the Union Government had considered the project of national importance taking into consideration its strategic location.

The chamber also appreciated the efforts made by the Chief Minister and the Chairman of the Cochin Port Trust (CPT) in persuading the Union Government to provide sufficient support for the two crucial elements of the ICTT project.

Meanwhile, the projects drawn up by the Cochin Port Trust for the port are expected to be completed in within two-and-a-half to four years. The new ventures, including the ICTT and the ship repair facility, are expected to bring in total investment of Rs.7,403 crore. Of this, private investments will be to the tune of Rs. 6,858 crores, says the plan finalised by the Port Trust.

Besides, the CPT is also looking at common infrastructure facilities such as capital dredging that are needed before the ICTT becomes a reality.

Building of the rail and rail link to the ICTT project site are included in this.

The ICTT project, in the meanwhile, requires clearance for the proposed Special Economic Zone by March next year as per the contract conditions between the CPT and Dubai Ports International, which is now operating the Rajiv Gandhi Container Terminal through its subsidiary India Gateway Terminal Private Limited.

Environmental clearance for the ICTT is expected before September next. Work on the transshipment terminal is expected to begin by April 2007.

According to the current schedule, the project will be commissioned by April 2009.

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