Ennore Port Ltd (EPL) signes a memorandum of understanding (MoU) with the ministry of shipping setting out enhanced performance targets for the year 2012-13, Domain-B reports.
The MoU for 2012-13 has enhanced both physical and financial targets for the company. The cargo throughput target has been set at 16 million tonnes and gross sales have been put at Rs210 crore for 'excellent grade'.
EPL chairman and managing director S Velumani and secretary, ministry of shipping, K Mohandas signed the MoU in New Delhi today.
Ennore Port Limited, a mini-Ratna Category-I PSU has the distinction of being the only corporate port under the ministry of shipping.
Functioning on a landlord model, the port has developed bulk handling terminals like coal, iron ore and liquid cargo on BOT basis through PPP. The port has been emerging as a major centre for export of automobiles.
The MoU targets of EPL were finalised on 16 February 2012 after discussion with the high level task force of the department of public enterprises (DPE). The targets are based on guidelines with respect to corporate social responsibility, sustainable development, research and development and human resource management.
Ennore Port has incorporated all these guidelines in its MoU parameters.
The MoU task force also assessed current year performance of EPL for fixing performance targets in respect of various financial and physical parameters.
Having a paid-up equity of Rs300 crore, against the authorised capital of Rs500 crore, Ennore Port has been consistently a profit making company and has paid a dividend of Rs7.41 crore to the Government of India and Rs3.71 crore to Chennai Port Trust, its two shareholders, for the year 2010-11.
EPL has been signing MoU with the government since 2006-07 and its performance vis-a-vis the MoU target has been 'excellent' throughout since 2007-08.
The MoU for 2012-13 has enhanced both physical and financial targets for the company. The cargo throughput target has been set at 16 million tonnes and gross sales have been put at Rs210 crore for 'excellent grade'.
EPL chairman and managing director S Velumani and secretary, ministry of shipping, K Mohandas signed the MoU in New Delhi today.
Ennore Port Limited, a mini-Ratna Category-I PSU has the distinction of being the only corporate port under the ministry of shipping.
Functioning on a landlord model, the port has developed bulk handling terminals like coal, iron ore and liquid cargo on BOT basis through PPP. The port has been emerging as a major centre for export of automobiles.
The MoU targets of EPL were finalised on 16 February 2012 after discussion with the high level task force of the department of public enterprises (DPE). The targets are based on guidelines with respect to corporate social responsibility, sustainable development, research and development and human resource management.
Ennore Port has incorporated all these guidelines in its MoU parameters.
The MoU task force also assessed current year performance of EPL for fixing performance targets in respect of various financial and physical parameters.
Having a paid-up equity of Rs300 crore, against the authorised capital of Rs500 crore, Ennore Port has been consistently a profit making company and has paid a dividend of Rs7.41 crore to the Government of India and Rs3.71 crore to Chennai Port Trust, its two shareholders, for the year 2010-11.
EPL has been signing MoU with the government since 2006-07 and its performance vis-a-vis the MoU target has been 'excellent' throughout since 2007-08.