The Hindu Business Line : Company formed to develop box terminal at Vizhinjam

A GROUP of city-based individuals and organisations is floating a company to support the development of the proposed international container transhipment terminal at Vizhinjam near Thiruvananthapuram.

Mr M.R. Narayanan, President, Chamber of Commerce-Thiruvananthapuram and one of those associated with the formation of the company told Business Line that it is likely to be called `People's Port Pvt Ltd'. The process of registering the company has already been started, he added.

The plan is to raise an initial corpus of Rs 100 crore from members of the public. Anyone who wants to support the proposal to develop an international container transhipment terminal at Vizhinjam can invest in the company, he said.

Those associated with the formation of the company are also planning to invite firms that supply equipment to ports to invest in the venture, he explained. In fact, several companies that are involved in building ports have shown interest in the proposal, Mr Narayanan added.

Once it starts functioning, People's Port will launch several initiatives to support the State Government's efforts to build the port at Vizhinjam, he said. For example, it will conduct an international awareness campaign to spread the message that a container transhipment terminal at Vizhinjam is both technically and commercially feasible, Mr Narayanan pointed out.

The company's activities will evolve depending on the progress of the Vizhinjam project, he said. If one of the 16 companies that have expressed interest in the project actually comes forward to develop the Vizhinjam port, People's Port will invest in providing support services to the port.

However, if none of these companies is willing to develop the Vizhinjam port, People's Port will work with the State Government to ensure that the project is successfully implemented, he explained.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Bangalore-Mysore infrastructure project — HC upholds original framework agreement with promoters

Major iron ore exporting ports rely more on road connectivity

Company formed to develop box terminal at Vizhinjam

Container movement on the rise

BEST places order for wheel chair accessible buses