The Cochin Port Trust hopes to come out of its financial difficulties in the next two-three years. By then, the port's cargo throughput will go up to 50 million tonnes (mt) from the current 20 mt, according to Mr. Paul Antony, Chairman, Cochin Port Trust, Daily Shipping Times reports.
The port has clocked a 12.4% growth in the last fiscal, touching 20 mt.
The LNG Terminal, which is fast nearing completion, is expected to bring in an additional cargo of five mt. Besides, the Bharat Petroleum Corporation Limited (BPCL)-Kochi Refinery expansion should add another 10 mt in the next two-three years, said Mr. Antony.
Once the Cabotage Law is relaxed, which is expected anytime now, International Container Transshipment Terminal (ICTT) Vallarpadam is expected to touch 1 million TEUs in two years.
In a communication to the employees, the Chairman said last year was a strike-free year of operation and expressed the hope that this would project a more positive image of the port.
The efforts to rejuvenate Willingdon Island are also in full swing.
The Request for Qualification (RFQ) floated for the 4 mt general cargo berth on the Q8-Q9 berths, which used to accommodate the container terminal, has attracted bids from seven of the country's top business houses. This is expected to be awarded by December, he said.
The 45-acre ship repair yard will be awarded in the current fiscal. Several reputed firms including those from the West Asia have shown interest in the project.
The 102-acre free trade warehousing zone has already been approved by the Commerce Ministry.
The port has clocked a 12.4% growth in the last fiscal, touching 20 mt.
The LNG Terminal, which is fast nearing completion, is expected to bring in an additional cargo of five mt. Besides, the Bharat Petroleum Corporation Limited (BPCL)-Kochi Refinery expansion should add another 10 mt in the next two-three years, said Mr. Antony.
Once the Cabotage Law is relaxed, which is expected anytime now, International Container Transshipment Terminal (ICTT) Vallarpadam is expected to touch 1 million TEUs in two years.
In a communication to the employees, the Chairman said last year was a strike-free year of operation and expressed the hope that this would project a more positive image of the port.
The efforts to rejuvenate Willingdon Island are also in full swing.
The Request for Qualification (RFQ) floated for the 4 mt general cargo berth on the Q8-Q9 berths, which used to accommodate the container terminal, has attracted bids from seven of the country's top business houses. This is expected to be awarded by December, he said.
The 45-acre ship repair yard will be awarded in the current fiscal. Several reputed firms including those from the West Asia have shown interest in the project.
The 102-acre free trade warehousing zone has already been approved by the Commerce Ministry.