CHENNAI: The Chennai Port Trust will see investments of around Rs 15 billion over the next five years, towards many development activities to improve infrastructure and facilities at the port. The said investments will be made by Chennai Port Trust, along with some private investors.
Talking to Deccan Herald on the sidelines of an event by the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) here on Monday, Chennai Port Trust Chairman Cyril C George said, “An investment of Rs 15billion is envisaged towards enhancing facilities over the next five years. The said infrastructure will include construction of new coastal berths, reclamation activities, and we are also mulling establishing coal handling facilities (depending on the expected ruling by a committee of the Supreme Court), among others.”
The port will also have a large bunkering terminal, which will be used to supply fuel to ships.
“The best-in-class infrastructure, strategic location, proactive management and skilled staff make Chennai Port a port of choice to trade — handling POL (Port of Loading), containers, cars, cruise, edible oil, project cargo, fertilisers, and other bulk cargo,” George said.
In recent times, the 135-year-old port has faced stiff competition from the five neighbouring ports of Kakinada, Krishnapatnam, Karaikal, Kamaraj and Kattupalli.
Moreover, the congestion of the roads leading to the port, and metro-rail work, among others, have burdened its functioning. “It’s true that people have an impression of congestion, but we have taken various measures, such as opening an eight-lane ‘O’ gate complex, laning and widening of internal roads, gate automation, and dedicated traffic team deployment,” George said.
Referring to other challenges, he said, “The economy is facing challenges and there is recession, which is bound to hit EXIM trade. Also, the six big ports on the East Coast (including Chennai) are within a range of 200 km, and must handle the cargo in the region.” In all, the port handled 50.06 million tonnes of cargo in 2015-16, against 52.54 million tonnes in 2014-15, with a decrease of 4.7% in traffic.
In order to boost its business and maritime trade prospects, the trust has introduced several concession schemes, such as additional concession in the range of 5-40% for maritime container vessels, and concession of Rs 150-200 in Railway charges for container shuttle services between Chennai Port and Tondiarpet ICD (Inland Container Depot).
The Chennai Port is a large hub from where cars are exported from India, but George said that containers make the bulk of its transactions at around 60%, having handled 1.56 million TEUs (Twenty Foot Equivalent Units) last year. “The port is endowed with an open storage area of 6,52,432 sq metres and a covered area of 52,708.75 sq metres to cater to the needs of trade, with ample rail, road and sea access,” he concluded.
