The Hindu Business Line : CPT operating surplus up

THE Cochin Port Trust (CPT) has handled an all-time high annual traffic of 135.72 lakh tonnes during 2003-04 surpassing the target fixed by the Union Ministry and earned an operating income of Rs 203.25 crore as against Rs 200.69 crore the previous year.

Addressing a press conference here on Friday, the CPT Chairman, Dr Jacob Thomas, said that operating surplus has gone up to Rs 60.25 crore last fiscal from Rs 53.48 crore in 2002-03. "We could reduce the operating ratio steadily over the years and achieve an all-time low operating ratio to the tune of 70.35 per cent during this year."

Besides, the CPT could spend the entire revised plan outlay for the year 2003-04 with 108.8 per cent utilisation.

The major achievement of the port was the reduction in dredging expenditure over the years with the innovative scheme of draft- based dredging introduced four years ago, he said.

While the expenditure on maintenance dredging, which was Rs 39.2 crore in 1999-00, had come down to Rs 27.34 crore in 2003-04, making a saving of over Rs 12 crore per annum, he said.

The staff strength in the CPT had been reduced over the years to as low as 4,328 as on January 31, 2004 from 5,389 on January 31, 2000, he said.

One of the significant achievements was that the port could attain ISO 9001-2000 certification in January 2004, covering comprehensively all the facilities and supporting services at the CPT.

He said that on the development front, the CPT could complete the dream project of the islands, viz., GIDA bridges (three) connecting the mainland from Ernakulam with the islands in the backwaters.

"We could achieve a very good offer for setting up of international container transhipment terminal at Kochi under BOT scheme. Dubai Port International, after undergoing the entire bidding exercise, emerged as the highest bidder offering a handsome revenue share of 33.3 per cent to the CPT," he said.

In addition, the port could conceive an integrated development programme with a basket of projects of Rs 7,442 crore, which include ICTT.

International Bunkering Terminal, International Cruise Terminal, international ship repair facilities, LNG re-gasification plant, single buoy mooring for Kochi Refineries Ltd, national highway connectivity, rail connectivity, breakwaters and capital dredging for establishment of a mega hub at Kochi. All the projects are in the different phases of consideration and progress, he said.