Plea to constitute a expert committee for revival of ICTT

Cochin Port Officers Association today urged Union Surface Transport Minister Nitin Gadkari and Kerala Chief Minister Oommen Chandy to constitute a high-level committee torecommend remedial measurers for the revival of the Vallarpadam International Transhipment Container Terminal.
The association also made a strong plea for a one time financial assistance by the centre to ensure sustainablity of the port. The ICTT was the country's dream project when it was launched in 2005.
The rationale behind the project was to have a modern world class transshipment terminal in India, thereby augmenting the Indian Export and Import trade, both in terms of cost as well as time and efficiency, which at present are happening in foreign ports like, Colombo, Singapore and Salalah, an association press release said.

The Union Government has already spent over Rs 1,700 crore for the project while the terminal Operator had spent about Rs 1,100 crore as of date. But, this project has not taken off as envisaged and was still functioning in its 35 per cent capacity even after completing three years of operation.
ICTT could not grow into a true International transshipment hub due to various reasons, both domestic and foreign, even after cabotage laws were relaxed by the government in December 2012.
ICTT was commissioned with a capacity of 1 million TEUs per annum in the first phase, predominantly for catering to transshipment cargo. The facility is capable of serving mother ships of 8000+ TEU capacity. But, even after three years of commissioning of ICTT, the maximum throughput achieved is only 3.46 lakhs TEUs per annum and the Transshipment volume is only less than 27,000 TEUS, the release stated.

"If this situation continues, the very purpose of ICTT will be defeated and thereby, Cochin Port will be thrown into huge irrevocable debt. This will be serious impediment not only to the economy of India as a whole but also will affect the life of the families of 2,300 employees and about 7,500 pensioners and indirectly another 10,000 persons working in the related trades and their families," it said.
Moreover the huge investment on the supporting infrastructure like road & rail connectivity will also go in vain.