• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Sajeev Kumar V.

KOCHI, Dec. 8

WITH the Union Government notifying India's first Port-Based Special Economic Zone (PBSEZ) spread over more than 1,000 acres at Vallarpadam and Puthuvypeen, the Cochin port is all set to herald a new beginning in the economic development of the State as the project would trigger tremendous growth opportunities.

The projects that are identified to be developed at PBSEZ are international transhipment terminal, international bunkering terminal, ship repair yard, golf course, marine oceanarium, LNG terminal, hotels, tank farms, bulk cargo terminals, cargo captive power plant and water desalination plant.

The units set up in the PBSEZ would enjoy concessions such as exemption from environmental restrictions, special tax incentives, duty concessions, exemption from sales tax, octroi and turnover tax for supply of goods from domestic tariff area to the SEZ units, expeditious clearance, etc.

The opening up of the PBSEZ will thus offer attractive investment opportunities besides providing employment opportunities, according to Dr Jacob Thomas, Chairman of the port.

PBSEZ is the first of its kind in India and Kochi is the first among the 12 major ports in the country to have been identified for setting up such a facility.

Meanwhile, a high-level delegation headed by the Industries Minister, Mr P.K. Kunhalikutty, has held discussions with the port officials and officials of the CSEZ with regard to the setting up of the project.

Mr Paul Antony, Development Commissioner of SEZ, said highlighted the need for identifying the actual implementing agency for the projects.

Action also needs to be taken for getting the concessions and exemptions such as sales tax, service tax, income-tax, Customs duty, etc.

Mr Kunhalikutty stressed the need for synergising the strengths of all the agencies involved in order to bring to fruition the prospects and potentials of the PBSEZ and for its speedy implementation.

He assured the port authorities of all support and co-operation from the State Government.

It was also decided that Kinfra would act as a nodal agency for co-ordinating all the activities in this regard in close association with the port and the Development Commissioner.

The port Chairman reiterated the commitment of the port in discharging its societal responsibilities and assured the Minister that the port will ensure that the project is executed in a time-bound manner to world-class standards.

Send this article to Friends by E-Mail
Comment on this article to BLFeedback@thehindu.co.in

Stories in this Section
Car production growth low, but exports rise: CII

Copyright © 2002, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line