Ennore Port to invest Rs 5,890 crore in capacity expansion

Targets to double capacity to 60 million tonnes per annum during 12th Plan

Ennore Port Ltd, India's first corporate port set up by the Ministry of Shipping near here, is targeting to double its capacity from the present 30 million tonnes per annum. This is expected to involve an investment of Rs 5,890 crore during the 12th Five Year Plan, according to a senior port official.

In the current fiscal, it would spend around Rs 300 crore as capital expenditure towards development of infrastructure projects. A major portion of the money will be invested in dredging.

Addressing the annual press meet here on Wednesday, MA Bhaskarachar, chairman-cum-managing director, Ennore Port Ltd, said around Rs 200 crore would be spent on dredging and the remaining would be used for other infrastructure facilities. It had spent around Rs 80.3 crore on capital dredging, road and rail connectivity.

Gross revenues increased 23.32 per cent to Rs 307.01 crore from Rs 248.96 crore in the  previous financial year. Pre-tax profit stood at Rs 218.65 crore (as against Rs 120.78 crore) while operating ratio was the lowest among all the major ports at 18.79 per cent (23.11 per cent in the previous fiscal).

Throughput increased 19.58 per cent to 17.89 million tonnes in 2012-13 from 4.96 million tonnes in the previous fiscal. The volume of coal handled grew 13.88 per cent , POL & LPG grew 103.33 per cent and car/automobile exports were up 39.33 per cent. The port received a record 475 vessels .

He said the proposed LNG import storage and regassification terminal, being developed by IOCL at an investment of Rs 4,320 crore here, was likely to be commissioned by 2016-17.

Meanwhile, the board of directors has given its nod for rebidding for the container terminal project. "We are in the process of appointing consultants to update the feasibility report and prepare bidding documents for the project," said Bhaskarachar.

It has also initiated pre-project activities for the construction of a third coal berth for Tangedco, which already has two dedicated coal berths at the port. With the setting up of the third berth, the state electricity board's subsidiary will handle 26 million tonne coal.  The estimated cost of the 9 mtpa (million tonnes per annum) berth is Rs 150 crore, including associated dredging expenditure.

The port has set another record by handling 145,000 cars through the general cargo berth.