The Hindu Business Line : Company formed to help implement Vizhinjam project

CONCERNED at the tardy progress of the project to develop an international container transhipment terminal at Vizhinjam near Thiruvananthapuram, a group of city-based organisations has decided to form a company to support the project.

According to Mr M.R. Narayanan, President, Chamber of Commerce - Thiruvananthapuram and one of those associated with the formation of the company, the objective is to work with the State Government and the public to ensure that the Vizhinjam project takes-off.

The company will be called People's Port Ltd and will have experts in shipping and port management on its board of directors. Members of the public can acquire a stake in the company, he added.

The State Government has fixed August 17 as the last day to receive techno-economic bids from companies interested in the project, he pointed out.

However, if the process of submitting tenders for the project is extended further, People's Port will approach the State Government with a viable business proposal to develop the container transhipment terminal at Vizhinjam, Mr Narayanan said.

The idea is to set up a consortium with public-private participation - on the lines of the Cochin International Airport Ltd - to develop the Vizhinjam port, he explained. Besides non-resident Indians, several large construction companies and port equipment suppliers have expressed an interest in being part of such a consortium, he added.

However, if the tendering process proceeds smoothly and a successful bidder emerges, People's Port will invest in providing support services to the Vizhinjam container transhipment, terminal, he said.

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