The Hindu Business Line : Visvesvaraya Centre funds infrastructure projects

Warehouse project
VITC funding Rs 9 cr for bonded warehouse project near New Mangalore Port.
The warehouse near the port, will help exporters from the region.

A.J. Vinayak

Mangalore, Oct. 25

The Visvesvaraya Industrial Trade Centre (VITC), a Karnataka Government centre for export promotion, is funding various infrastructure projects in coastal Karnataka, according to Mr H.V. Raghuram, Managing Director of VITC.

In an informal chat with Business Line on the sidelines of a seminar on ‘Export awareness’ here on Thursday, he said that the VITC is funding Rs 9 crore for the bonded warehouse project near New Mangalore Port.

The Mysore Sales International Ltd (MSIL) is contributing another Rs 3 crore for the project. Bonded warehouse, which is coming up at the industrial area of Karnataka Industrial Areas Development Board near the port, will help exporters from the region.

Funding projects

Mr Raghuram said that the VITC is also funding for the development of road between STPI and airport in Mangalore. Added to this, VITC has funded Rs 2 crore for the establishment of a fisheries auction hall at Bunder area in Mangalore. Work on it has been completed, he said.

Another such auction hall and sheds for fishermen are being built in Udupi district at a cost of Rs 2.5 crore, and work is in progress, he said.

Asked about VITC’s assistance for other infrastructure projects in coastal Karnataka, Mr Raghuram said that around Rs 80 lakh was spent on removing silt at Bhatkal port.

He said that VITC is extending an assistance of Rs 40 lakh for development in and around Karwar port and Rs 70 lakh for the construction of a godown near the port.

Promoting exports

Earlier speaking at the seminar, Mr Raghuram said that the Karnataka Government has taken various steps for the promotion of exports from the region. The total exports from the region, which stood at Rs 29,000 crore during 2003-04, increased to Rs 1.05 lakh crore during 2006-07. Plans are there to double the export figures in the next five years.

VITC is coordinating with various export promotion councils in this regard, he said.

He felt that the exports from Mangalore region will increase in the coming days.

Mr M.M. Kudva, Deputy General Manager of Canara Bank, Mangalore Circle Office, inaugurated the seminar. The seminar was jointly organised by Kanara Chamber of Commerce and Industry, VITC, Engineering Export Promotion Council and District Industries Centre.

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