Financial Daily from THE HINDU group of publications
Thursday, Nov 27, 2003
Financial Daily from THE HINDU group of publications Thursday, Nov 27, 2003 |
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Logistics
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Shipping Kerala to invite EoIs for Vizhinjam port next month Our Bureau
Thiruvananthapuram , Nov. 26 THE Kerala Government is set to invite expressions of interest (EoIs) for the development of Vizhinjam port near here, some time in December. The Government is also considering convening an investors' meet in January 2004, following which a development partner will be selected from the tenders received, according to Mr M.V. Raghavan, Minister for Ports. He told presspersons here on Wednesday that if things move as planned, the first phase of the project would materialise by the end of 2007. A consortium of international consultants, led by IL&FS Infrastructure Development Corporation, is currently conducting studies for the implementation of the project with private participation. As per the preliminary report, the first phase of the project will cost Rs 1,800 crore. To be executed in three phases, the total project cost was expected to be around Rs. 4,500 crore, Mr Raghavan said. The Minister noted that the Prime Minister's `Sagarmala' project had come as a blessing for the Vizhinjam port. The project envisages two new ports at an outlay of Rs 5,000 crore each. The State Government had requested the Union Shipping Ministry that one of the proposed new ports should be Vizhinjam, he said. The State's proposal is to develop the port as a joint venture of the Union Government and State governments and a private partner. Mr Raghavan pointed out that there are many natural factors that favour the development of Vizhinjam port into a major international container transshipment terminal. For one, the port lies close to the international shipping route. Also, a draft of 20 metres and more is available within one nautical mile of the port that will enable even container ships to make use of it.
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