The Hindu Business Line : DPI gets CCEA nod for Kochi box terminal project

THE Cabinet Committee on Economic Affairs (CCEA) on Wednesday gave its nod to Dubai Ports International (DPI) for the development and operation of an international container transhipment terminal (ICTT) in Kochi port on a build, operate and transfer (BOT) basis for a period of 30 years.

DPI had emerged the highest bidder for the Rs 2,118 crore project by quoting the highest revenue share of 30.30 per cent to the Cochin Port Trust.

The implementation of the project will improve the container handling facilities at the existing Rajiv Gandhi Container Terminal (RGCT) at the port for transhipment purposes, an official spokesperson said here.

The CCEA also approved an outlay of Rs 568.17 crore including a Central share of Rs 472.60 crore for the implementation of the Technology Mission on Cotton (TMC) during the Tenth Five Year Plan.

The implementation of TMC is expected to increase cotton production to about 215 lakh bales by the end of the 10 th Plan. The productivity level is expected to increase to 388 kg per hectare from the present level of 269 kg per hectare.

Besides this, substantial improvement in the quality of cotton is expected, putting India in a better position to compete in the export of quality cotton and textiles.

The Union Cabinet gave its ex post-facto approval for acceptance of the Inter-Governmental Agreement on Asian Highways and for becoming a party to the Inter-Governmental Agreement on the Asian Highway Network which was signed during the 60th annual session of the UNESCAP held in April this year in Shanghai, China.

The Asian Highways Network, comprising 32 countries spread over more than 1,40,000 km, aims to provide connectivity between capitals of member countries, main industrial and agricultural centres, major sea and river ports, major container terminals and depots and places of major tourist attraction. This will help the movement of traffic, improvement of trade and tourism among Asian countries.