Financial Daily from THE HINDU group of publications
Friday, Apr 07, 2006
Financial Daily from THE HINDU group of publications Friday, Apr 07, 2006 |
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Logistics
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Shipping Chennai port's incentive plan for Hyundai Our Bureau
HYUNDAI CARS waiting at the Chennai port. (A file picture)
Chennai , April 6 The Chennai Port Trust (ChPT) plans to offer Hyundai Motors India Ltd a productivity-linked incentive scheme. The incentive would depend on the car manufacturer's performance, according to Mr K. Suresh, Chairman, ChPT. "This is one of the measures to retain Hyundai," he told newspersons. Hyundai also plans to construct a multi-level car parking inside the port, he said. Chennai port recorded an all-time high performance, handling 1,02,692 Hyundai cars in 2005-06 compared to 83,121 during last fiscal — a 20.29 per cent increase, he said. Forty-five car carriers visited the port in 2005-06 compared to 42 last fiscal. Chennai port is becoming a major car terminal in the country, he said. Besides Hyundai, other manufacturers like Volvo have continued to export heavy commercial vehicles through the port. Eukor, a car carrier company, has also shown interest in a tie-up with the port to attract other exporters, he said. According to Mr Suresh, Samrat, a Malaysia-based private operator, wants to operate a passenger service between Chennai and Singapore/Port Klang. The proposal is under consideration by the Centre. The port trust is reclaiming 68 hectares near gate number one and north of the port's Bharathi Dock. The first stage of reclamation work would be taken up shortly at an estimated cost of Rs 18.5 crore. It has received Coastal Regulation Zone clearance from the Ministry of Environment and Forest. The reclamation work further north of the port would be taken up after completion of the mathematical model study and CRZ clearance, he said.
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