The country's first International Container Transhipment Terminal (ICTT), being built by Cochin Port Trust (CPT) and Dubai Port World at Kochi, Kerala, will be commissioned on March 31 next, a top official said.
"We will be commissioning the project in March 2010 which will meet the demand for a convenient pivotal point for consolidating and distributing regional cargo," CPT Chairman, M Ramachandran, told PTI here.
The project is a PPP venture with Dubai Port Trust as the BOT partner, and will be located on the Vallarpadam Island in Kochi, in proximity to the existing (bunkering) terminal. The container berth will be of 1,800 metres with a depth of 14.5 metres, Ramachandran said, adding that the investment involved in the project is $500 million.
DPW has pumped in USD 300 million, Ramachandran said, adding that the Port Trust will get 33 per cent of the gross revenues. The ICTT is expected to alter the development map of the state through huge investments in the coming years, he said.
With this terminal, the Indian maritime industry will be able to save 7-10 days of sailing time besides achieving a saving of around $200-300 per TEU. He further said that rail connectivity to Vallarpadam and other dredging activities have been completed but the four-lane road, being built by the NHAI, is yet to be completed.
