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The Kerala Government will continue to press for the Rs 400-crore assistance from the Shipping Ministry to tide over the financial crisis of Kochi Port.
State Port Minister K. Babu pointed out that the Kochi Port is expected to better its performance in the next three years following the relaxation of the Cabotage Law.
Till then, the port has to survive and therefore a package is necessary to meet its various requirements, he said.
The Minister was replying to a call attention in the State Legislative Assembly.
Further, the Shipping Ministry has also forwarded a proposal of the port to the Finance Ministry for a Rs 400-crore assistance to carry out maintenance dredging in berth basins.
Dredging cost
As the siltation is high in the channel, the port has to carry out frequent dredging in ICTT (international container transhipment terminal) berth to maintain the depth, he said, adding that the rising expenditure in dredging cost is a problem faced by the port and is affecting its financials.
It may be recalled that the port has been demanding sharing of dredging expenses between various agencies using the channel.
Unlike other ports, the port channel is used by Indian Navy, Cochin Shipyard, Coast Guard. However, the dredging expense is borne by the port alone.
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