Developments of Cochin Port to benefit local economy

The development projects envisaged by the Cochin Port Trust will have multiple effects on Kochi's economy as it would enhance tourism potential, promotion of hospitality industry and other allied industries besides creating more job opportunities.

In a presentation Cochin Port Trust the Engine of Economic Prosperity made at a one day workshop on the development of the district by the Ernakulam District Residents Association Apex Council Mr Cyril C George secretary of Cochin Port Trust said that the development projects worth about INR 10000 crore centred on the port are progressing in a time bound manner.

He said that the first phase of the INR 2118 crore International Container Transhipment Terminal at Vallarpadam will be commissioned in April and 70% of construction work had been completed. As the Indian port closest to the international maritime route, the Kochi port enjoys the advantage of being strategically located.

He added that at present, 65% of the country's container traffic was being transshipped through ports in neighboring countries. Once the ICTT project starts operations, he said the country's import and export industry will gain INR 6000 to INR 12000 on each container.

Referring to the proposed LNG terminal, he said major portion of the construction works of the project at Puthuvypeen had been completed. The project entails investment worth about INR 16000 crore. Likewise, tenders had also been invited for a bunkering terminal project worth INR 95crore.

Mr George further said that plans were also afoot to set up an International Cruise Terminal at an estimated cost of INR 400 crore in the Willingdon Island. Ever since the cruise liner of the German company AIDA cruises had chosen Kochi as its turn around port more than 2,000 foreign tourists had passed through the port.

(Sourced from http://www.steelguru.com/news/index/2009/12/28/MTI2Njgx/Developments_of_Cochin_Port_to_benefit_local_economy.html)

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