KoPT engages JU to monetise land bank

The Kolkata Port Trust has engaged Jadavpur University to provide a land use plan which will lay a roadmap to monetise its land bank designed to help the port to earn about Rs 1,000 crore on a conservative estimate.
"We have already engaged Jadavpur University for a land use plan and it is supposed to submit it by the end of this month," KoPT chairman R P S Kahlon said here today on the sidelines of a Bharat Chamber of Commerce interactive session.
He said that after evaluation it would be forwarded to the Shipping Ministry.
The ministry is supposed to formulate a policy on land use for ports of Mumbai, Khandla and Kolkata that will pave way for the ports using excess land for all sorts of commercial use that may include residential and IT parks.

According to Kahlon, the ministry is supposed to place the policy before Cabinet in December.
At present ports cannot exploit it's excess land for full fledged commercial use and restricted for industrial and port activities.

Kahlon said the port would offer the land on lease and not outright sale.
KoPT has vacant unused land bank of some 710 acres in the metropolis and 2014 acres in Haldia. The port already earns about half of its annual revenue from renting to industry.
The port is facing challenges from its huge manpower burden of 7,000 employees.
Kahlon said the port was working with consultants on restructuring of the organisation and the workforce.

Speaking about Sagar port, Kahlon said the draft of SPV is with state government for their approval. The port has shown impressive 22 per cent growth in the current fiscal against 12 per cent in the previous year.