The Hindu Business Line : Cochin Chamber hails budget allocation for road, rail links to Vallarpadam

THE Cochin Chamber of Commerce and Industry has welcomed the decision by the Union Government to provide budgetary support for constructing the road and railway link to the proposed site of the International Container Transhipment Terminal on Vallarpadam Island.

Expressing satisfaction on the move, the Chamber felt that the Union Government had taken note of the project as of national importance taking into consideration its strategic importance.

It also appreciated the efforts being made by the State Chief Minister and the Chairman of the Cochin Port Trust in persuading the Union Government to provide sufficient support for the two crucial elements of the ICTT project.

As per the plans finalised by the port, various developmental projects to be taken up by the port will be completed between two-and-a-half years to four years.

The new ventures, including the ICTT and the ship repair facility, are expected to bring in a total investment of Rs 7,403 crore.

Of this, private investments will be to the tune of Rs 6,858 crore.

Besides, the Port is also looking at common infrastructure facilities like capital dredging that would be needed before the ICTT becomes a reality.

An investment of Rs 8,487 crore is needed for the purpose.

Building of the rail and rail link to ICTT project site are included in this.

The environmental clearance for the ICTT is expected before September next year while work on the transhipment terminal is expected to commence by April 2007.

According to the current schedule, the project will be commissioned by April 2009.