Tuticorin Port Trust, the country’s third-largest port in terms of cargo handled this year, plans to develop an outer harbour
Will develop an outer harbour and set up port-based industries
MUMBAI: Tuticorin Port Trust, the country’s third-largest port in terms of cargo handled this year, plans to develop an outer harbour, which will increase its cargo handling capacities and also set up port-based industries.
The port trust is contemplating to develop an outer harbour under the Public Private Partnership (PPP) at the cost of Rs 4,350 crore. The project has received an in-principle approval and will see a total of nine jetties being set-up, comprising two coal jetties, five container terminals, one oil jetty and one port craft jetty.
The port wants to get debt funding of Rs 2,810 crore from Japan Bank Corp, which will be used for the basic infrastructure work of dredging, break water and reclamation.
Besides this, the port plans to invest another Rs 450 crore in providing road, rail and other allied
facilities. The remaining Rs 1,100 crore is expected to come from private players.
However, this funding was estimated by the feasibility study in 2006-07 and is subject to change.
A Subiah, deputy chairman, Tuticorin Port Trust said, “We have appointed a consultant to prepare a detailed project report (expected by January) to get the exact cost estimates and we expect it to touch Rs 6,000 crore and the debt funding may touch Rs 4,000 crore.”
He said the port trust is also open to private parties taking up the entire project.
The port trust will call for Expression of Interests (EoI) from private parties in the next two weeks. As per the National Maritime Development Programme the construction of the outer harbour should start next year and be ready by 2012.
However, Subiah is of the opinion that owing to the time taken in such big projects, the outer harbour would only be ready by 2015.
Tuticorin Port was the largest growing major port with a 19.33% growth rate as compared to last year and was third-largest in cargo handling next to Kandla Port Trust and Jawaharlal Nehru Port Trust. The port handled 11 million tonne of cargo this year (April-September), which is expected to tough 45 million tonne by 2011-12.
To augment further industrial development the port wants to create further industries, services and infrastructure facilities in the port.
It has allocated 150 acres and has called for EoIs from private parties who are interested in setting up thermal power station, oil refinery, container terminal or cold storage plant.
Subiah said, “We have made available 150 acres in the port premises, which has an exclusive waterfront, where the operators can build their own private jetties.”
The port will provide the land, two arterial roads and one railway line to the operator. The port has estimated an infrastructure development cost of Rs 200 crore apart from the project cost.
Speaking of the importance of the port based industries, Subiah said, “Since Tuticorin is fast developing in a power hub, the need for coal handling capacities take centre stage.
Besides, road and rail connectivity is being improved at the port, which adds to the value that this project can bring.”
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