VALLARPADAM CONTAINER TERMINAL PROJECT IN KOCHI

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RAJYA SABHA

Cochin Port Trust has drawn up an Integrated Development Plan for the port which, inter-alia, includes the construction and operation of an International Container Transhipment Terminal (ICTT) at Vallarpadam, capital dredging of its navigational channels, road connectivity and rail connectivity, to be implemented on public-private partnership basis. The Minister of Finance has, while presenting the Union Budget 2003-04, announced viability gap funding, for the port’s comprehensive modernization project designed to bring it up to international standards, to bridge any possible short-fall between anticipated revenue and loan repayment liabilities. A firmed up proposal seeking budgetary support for the project has not yet been sent to the Planning Commission. However, a token provision of Rs. 1 crore has been allocated in the Annual Plan 2003-04 of the Port Sector for capital dredging at the port pending finalisation of the funding pattern for the project. Since the ICTT Project is to be executed on Build, Operate & Transfer (BOT) basis which involves selection of private operators through open competitive bidding, it would not be possible to indicate the time-frame for completion of the project.

The above information was given by Shri Dilipkumar Mansukhlal Gandhi, Minister of State in the Ministry of Shipping in a written reply to Shri A.R. Kidwai and Dr. T. Subbarami Reddy in Rajya Sabha today.