PM to dedicate Vallarpadam terminal on Feb 11
PM Manmonhan Singh will dedicate to the nation the rs 3200 crore International Container Transhipment Terminal (ICTT) at nearby Vallarpadam, on Feb 11.
Kochi: Prime minister Manmonhan Singh will
dedicate to the nation the rs 3200 crore International
Container Transhipment Terminal (ICTT) at nearby Vallarpadam,
on Feb 11.
The Dubai Port, the terminal`s operator, has already
completed construction of a modern terminal and has equipped
with state-of-the-art cargo handling equipments, Cochin Port
Trust chairman, N Ramachandrn, told reporters here.
As per the agreement between the CPT and Dubai Ports World
(DPW), the construction of the terminal, its equipmenst and
operations will be the responsbility of DPW and providing the
road and rail connecivity to the project site and deepening of
the shipping channels will be the responsbility of the port.
The DP World has invsted close to rs 1600 crore for the
project and the Union government , through the CPT, has also
invested rs 1600 crore for the road and rail connectivity of
the project taken up through the PPP mode.
The DPW will oeprate teh terminal for a 30 year period
after which the assets will come back to kochi port as per the
agreement betweent he two, the chairman said.
As per the agreeemnt, one third of the gross revenue goes
to the CPT while the rest would for DPW.
On the strike by a section of the workers, he said it was
`unfortunate` that some workers are on strike at a time when
the port is inaugurating its major expansion project.
He said about 70 workers may loose their job once the port
activities are shifted to Vallarpadam. The Kochi port will
take all efforts to rehabiltiate them, he said adding enough
job opportunties would be created at wellington island for
storage, stuffing and destuffing and repair of containers.
Dubai Port world`s Senior Vice President, (India
subcontinent) who was present, said 350 metres quay line out
of the 600 metres was ready now and the remaining would be
ready by march 31 when the depth of the draught will touch