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.
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