Cochin Port lines up Rs 10,000 cr

The Cochin Port is investing about $2 billion (Rs 10,000 crore) for setting up a new International Container Transshipment Terminal (ICTT), an LNG terminal, and for reconstructing old berths.

Speaking to Business Standard, N Ramachandran, chairman, Cochin Port Trust, said the investments include $500 million (Rs 2,500 crore) from Dubai Port World for the ICTT coming up on the Vallarpadam Island on a build, operate and transfer basis. It would be commissioned in November 2009 with a capacity to handle three million containers a year.

The trust would spend over Rs 1,100 crore for creating a rail connectivity, increasing the draft to 14.5 metre from the current 12.5 m and strengthening the road network to the terminal.

Ramachandran said Petronet LNG Limited was investing about Rs 5,000 crore for setting up an LNG Terminal, which would commence operations in 2011 and have a capacity of 5 million MMBtu. The new plant would regasify the LNG imported and distribute it through a pipeline.

Similarly, a single buoy mooring of BPCL-Kochi Refinery was recently commissioned to handle very large crude carriers (VLCCs) with a capacity of 300,000 tonne. About Rs 760 crore went into the project.

He also said that seven of the total 18 berths handling small vessels, which are in bad shape, would be modernised with Rs 71 crore.

To attract more cruise vessels, the port is planning to set up an exclusive cruise terminal, which would have a five-star hotel, shopping mall and an ayurvedic parlour. “ The feasibility study is complete and the investment models are being worked out,” he said.

In 2007-08, 43 cruise vessels including Queen Mary II and Queen Elizabeth called at the port. The port is in talks with cruise operators to use it as a turnaround port, he said.

The port recently commissioned a vessel traffic management system (VTMS) to monitor vessel movements and detect unauthorised or unscheduled vessels, prevent collisions and damages to underwater structures and ensure security of the port-based special economic zones and vital installations at Vallarpadam, Ramachandran said.