Kochi: The current economic slowdown experienced worldwide would have no impact or delay the commissioning of the International Container Transhipment Terminal (ICTT) at Vallarpadam, said Mohammed Sharaf, CEO of DP World.
Talking to reporters here last night, Mr. Sharaf said the construction of the Phase 1 A, that is development of 600 metres of quay length, would be over by the end of next year.
Terming the ICTT as the major driver of growth in the southern parts of the country, Mr. Sharaf noted that nearly 60 per cent of the trade volumes generated out of the southern regions of the country get transhipped onto mainline vessels calling at hub ports like Colombo. Kochi is in an advantageous position because of its strategic location and is easily accessible to the major trade routes because of the closeness to the International maritime line. Key role
Mr. Sharaf who was here in connection with a visit to the Indian subcontinent region said that the emergence of the ICTT at Vallarpadam, the first of its scale and kind within in India, would play a key role in making Kochi a strategic port location to the shipping community. Indian subcontinent region is one of DP World’s strong propellers of growth in the future and the company is committed to making the ICTT a key catalyst of future trade in India, he said.
Being adjacent to main east-west sea trade route, he said the ICTT will assist the shipping world by reducing India’s dependence on foreign ports for transhipment thereby reducing overall costs. With major gateways on the west coast becoming crowded, new gateways like the ICTT are much needed to give the trade a service they can rely on. Rail connectivity
Giving details of the ICTT project, he said that the construction of the quay was going on at a hectic pace to meet the time schedule.
Work on the rail connectivity has also commenced where the ICTT is going to be connected to the mainland by one of the longest railway bridge tracks the country has ever seen. One of the strong advantages of ICTT will be the basket of multimodal options available to exporters and importers connecting to the transhipment hub when compared to the current scenario where rail/road transportation is not an option, he said.
Some of the major global container shipping lines have shown a keen interest in having their services call at the ICTT. However, he declined to divulge the names of those shipping lines agreed to commence its voyage. The company is also looking at starting supporting business like container rail service once the Vallarpadam project is fully developed. He pointed out that there are plans to start train service from Vallarpadam to various ports in the country as part of the company’s long term strategy.
Thursday, December 4, 2008
Monday, December 1, 2008
FROM HINDUBUSINESS LINE
Kochi , Feb. 16
WITH the Prime Minister, Dr Manmohan Singh, laying the foundation stone for the Rs 2,118-crore Vallarpadam International Container Transhipment Terminal at Kochi on Wednesday, the decade-old project moved closer to reality.
The Prime Minister said the terminal would act as a gateway to the world as it would place the country's exports, particularly from South India, at par in logistics competitiveness with their global counterparts.
"This ceremony of laying the foundation stone is the first step in realising a decade-old expectation of a community focussing on seafaring activities and depending on them for creation of large indirect employment, among other benefits," he said.
Describing it as the first global hub terminal, Dr Singh said it has immense potential to spin off effects through direct terminal related employment and indirectly through activities such as road, transport, warehousing, repairs, training and related activities.
The project is expected to provide the backbone for and accelerate six other maritime related projects which include the Rs 1,600-crore LNG terminal, the Rs 1,510-crore port-based special economic zone, the Rs 315-crore International Ship Repair complex and the Rs 720-crore SBM for Kochi Refineries Ltd. There is also a proposal to create an international marina at Kochi.
The Union Government recognises the crucial role that the Kochi port can generate employment and ensure balanced regional development. It is providing financial aid to these projects, road connectivity to the port from the national highways and rail connectivity, said Dr Singh.
The Prime Minister said his Government was giving special attention to infrastructure development, including ports by setting up a Cabinet committee to facilitate greater flow of investments.
There is need for a co-ordinated development of major and minor ports. The Shipping Ministry's proposal to provide financial aid for the development of minor ports will be considered, Dr Singh said.
Describing the foundation function as a "second revolution in the Indian maritime sector," the Union Shipping Minister, Mr T. R. Baalu, said the economy would definitely get a boom once the terminal becomes fully operational.
He said the shipping sector had witnessed an impressive growth of 10.8 per cent in handling capacity in the last eight months by handing 311 million tonnes against 284 million tonnes last year.
The average output per day also increased from 8,592 tonnes to 8,830 tonnes. Turnaround of vessels in 12 major ports has been reduced to 3.38 hours from 3.48.
Sultan Ahmed Bin Sulayem, Executive Chairman, PCTZ, UAE, said Dubai Ports had outlined an investment of $20 million in the project to make Kochi a major global centre in the region. The setting up of this terminal of international significance is the "right project in right place and in right time," he said.
WITH the Prime Minister, Dr Manmohan Singh, laying the foundation stone for the Rs 2,118-crore Vallarpadam International Container Transhipment Terminal at Kochi on Wednesday, the decade-old project moved closer to reality.
The Prime Minister said the terminal would act as a gateway to the world as it would place the country's exports, particularly from South India, at par in logistics competitiveness with their global counterparts.
"This ceremony of laying the foundation stone is the first step in realising a decade-old expectation of a community focussing on seafaring activities and depending on them for creation of large indirect employment, among other benefits," he said.
Describing it as the first global hub terminal, Dr Singh said it has immense potential to spin off effects through direct terminal related employment and indirectly through activities such as road, transport, warehousing, repairs, training and related activities.
The project is expected to provide the backbone for and accelerate six other maritime related projects which include the Rs 1,600-crore LNG terminal, the Rs 1,510-crore port-based special economic zone, the Rs 315-crore International Ship Repair complex and the Rs 720-crore SBM for Kochi Refineries Ltd. There is also a proposal to create an international marina at Kochi.
The Union Government recognises the crucial role that the Kochi port can generate employment and ensure balanced regional development. It is providing financial aid to these projects, road connectivity to the port from the national highways and rail connectivity, said Dr Singh.
The Prime Minister said his Government was giving special attention to infrastructure development, including ports by setting up a Cabinet committee to facilitate greater flow of investments.
There is need for a co-ordinated development of major and minor ports. The Shipping Ministry's proposal to provide financial aid for the development of minor ports will be considered, Dr Singh said.
Describing the foundation function as a "second revolution in the Indian maritime sector," the Union Shipping Minister, Mr T. R. Baalu, said the economy would definitely get a boom once the terminal becomes fully operational.
He said the shipping sector had witnessed an impressive growth of 10.8 per cent in handling capacity in the last eight months by handing 311 million tonnes against 284 million tonnes last year.
The average output per day also increased from 8,592 tonnes to 8,830 tonnes. Turnaround of vessels in 12 major ports has been reduced to 3.38 hours from 3.48.
Sultan Ahmed Bin Sulayem, Executive Chairman, PCTZ, UAE, said Dubai Ports had outlined an investment of $20 million in the project to make Kochi a major global centre in the region. The setting up of this terminal of international significance is the "right project in right place and in right time," he said.
Friday, November 28, 2008
FROM VALLARAPADAM.COM
The Rs. 2,118 crore (US$442 million) ICTT (International Container Transshipment Terminal, Vallarpadam), India's first global hub terminal, is cleared by the Centre in August 2004, is all set to alter the development map of Kerala, by ushering in huge investment in the coming years.
The ICTT project is set to launch a series of ventures including the Rs 1,600-crore LNG terminal, the port-based Special Economic Zone (Rs 1,510-crore), International Ship Repair complex (Rs 315-crore), SBM (single buoy moorings) for Kochi Refineries Ltd (Rs 720-crore), Petro chemical complex for Gas Authority of India (Rs 7,000-crore), International bunkering terminal, Bulk cargo terminals, Cruise ship terminals, International Marina etc.
The Rs. 2,118 crore (US$442 million) ICTT (International Container Transshipment Terminal, Vallarpadam), India's first global hub terminal, is cleared by the Centre in August 2004, is all set to alter the development map of Kerala, by ushering in huge investment in the coming years.
The ICTT project is set to launch a series of ventures including the Rs 1,600-crore LNG terminal, the port-based Special Economic Zone (Rs 1,510-crore), International Ship Repair complex (Rs 315-crore), SBM (single buoy moorings) for Kochi Refineries Ltd (Rs 720-crore), Petro chemical complex for Gas Authority of India (Rs 7,000-crore), International bunkering terminal, Bulk cargo terminals, Cruise ship terminals, International Marina etc.
Tuesday, November 25, 2008
ABOUT VALLARPADAM
From Wikipedia, the free encyclopedia
Vallarpadam is one of the islands that make up the city of Kochi, Kerala, India. It is situated in the Vembanad lake and has a population of over 10,000. An international container transshipment terminal is under construction here. Vallarpadam is connected by the Goshree bridges with the city of Ernakulam and Vypin island. 70% of the island consists of paddy fields; the economy principally consisting of fishing by traditional methods and cultivation of rice
Vallarpadam is one of the islands that make up the city of Kochi, Kerala, India. It is situated in the Vembanad lake and has a population of over 10,000. An international container transshipment terminal is under construction here. Vallarpadam is connected by the Goshree bridges with the city of Ernakulam and Vypin island. 70% of the island consists of paddy fields; the economy principally consisting of fishing by traditional methods and cultivation of rice
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