The Hindu Business Line : Kochi port moves Centre for capital dredging grant

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The port can attract business only when the facilities of a minimum 14.5 m of draught are made available to vessels with a capacity of more than 8,000 teus.

V. Sajeev Kumar

Kochi, May 7 The Cochin Port Trust has approached the Union Government for a grant in aid of Rs 385 crore to carry out the capital dredging, one of the prerequisites for its proposed international container transhipment terminal (ICTT) project.

The Port Chairman, Mr N. Ramachandran, told Business Line that dredging is a very critical component for ICTT and the port needs financial support from the Government considering the huge costs involved.

“With the full Government grant for dredging, we will be able to provide port services at ICTT at internationally competitive rates.

If we borrow money from the market to execute the work, it will result in higher handling cost in the terminal, which will be uncompetitive and detrimental to the very purpose of setting up the ICTT,” he said.

The Chairman pointed out that the port has to compete with neighbouring transhipment ports and business to Kochi could be attracted only when the facilities of a minimum 14.5 metres of draught are made available to vessels with a capacity of more than 8,000 teus.

Facility back-up

The sizes of container vessels are becoming larger and larger throughout the world and it is in this context that deepening and widening of the channel is very critical for ICTT, he added.

The port, he said, will be required to carry out capital dredging to the extent of approximately 24 million cubic metres and maintenance dredging of 16 million cubic metres in the next two years.

Marine support

The dredging and widening of the channel will also help the port provide marine support to the upcoming LNG Terminal as they need to deepen and widen the channel for the entry of larger vessels carrying the gas.

The Chairman, who made a presentation before the Public Investment Board, said that the Board has recommended the proposal of the port and a final decision is expected to be taken by the Cabinet Committee on Economic Affairs.

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