The Hindu Business Line : New Mangalore Port crosses Rs 300-cr revenue in 2007-08

The port has developed a railway line inside the security compound wall at a cost of Rs 4 crore. The sixth line at the railway marshalling yard is nearing completion.

Our Bureau

Mangalore, April 10 New Mangalore Port Trust (NMPT) earned revenue of over Rs 300 crore during 2007-08, according to Mr P. Tamilvanan, Chairman of NMPT.

Addressing the annual press conference at NMPT on Thursday, he said that for the first time, NMPT’s income crossed Rs 300 crore during 2007-08. While the expenditure during the year stood at Rs 187 crore, the net surplus was at Rs 115 crore.

“For the third consecutive year, the port could earn a net surplus of above Rs 100 crore,” he said.

INFRASTRUCTURE

Giving details on infrastructure development works during 2007-08, Mr Tamilvanan said the port has developed a railway line inside the security compound wall at a cost of Rs 4 crore. The sixth line at the railway marshalling yard is nearing completion.

To cope up with the increased handling of bulk cargoes, four additional storage sheds are being planned. Work is in progress in this regard, he said.

NMPT has taken steps to improve the port roads and stack yards in a phased manner. Under phase 1, works worth Rs 25 crore are in different stages of execution. Work order of Rs 29.42 crore has been issued for concreting existing roads.

The work of creating additional 40,000 sq metres of paved stack yards for stacking containers is in progress, he said. The future plans include the development of coal handling facility for captive users and establishment of mechanised iron ore handling facilities at berth No. 14 under the build-operate-transfer basis.

CRUISE LOUNGE

To cater to the needs of the cruise vessels calling at the port, a cruise lounge has been built at a cost of Rs 3 crore.

The port handled 16 cruise vessels during 2007-08 as against 18 vessels during the previous fiscal.

The port handled 36.02 million tonnes of traffic during 2007-08 as against 32.04 million tonnes in the previous fiscal.

The port, which has capacity to handle 41 million tonnes of traffic a year, is planning to increase the capacity by 22.5 million tonnes by 2011-12.

An international consultant has conducted a study for the purpose and has submitted a business plan for the port, he added.

Mr M.A. Bhaskarachar, Deputy Chairman of NMPT, was present on the occasion.