Reach us: 7304553123 / mktg@projectstoday.com
Help
1. Boolean Searches :

i. AND - Shows results where both terms on either side of the 'AND' operator are present. 'AND' must be in upper case. For example search term - delhi AND metro result - It will return records in which 'delhi' as well as 'metro' both are present.

ii. OR - Shows results where either term (or both terms) is present. 'OR' must be in upper case. For example search term - delhi OR metro result - It will return records in which either 'delhi' or 'metro' or both are present

2. Proximity Searches

A proximity search looks for terms that are within a specific distance from one another. For example, search term - 'delhi metro'~10 result - It will search for records where 'delhi' and 'metro' are found within 10 words of each other

3. Phrase searches

You can search phrases using double quotes. for e.g. 'delhi metro' result - It will return records where 'delhi metro' phrase is found.

Vallarpadam ICTT: Concession agreement on 7 Feb

Monday, 31 Jan 2005
Share this on :

The concession and licence agreement for developing the Vallarpadam international container transshipment terminal (ICTT) at Vallarpadam in Kochi Port will be signed between the successful bidder, Dubai Ports International (DPI), and the Cochin Port Trust, in Thiruvananthapuram on 7 February 2005.

Kerala Chief Minister, Mr Oommen Chandy, and the Union Minister for Shipping, Road Transport & Highways, Mr T. R. Baalu, would be present at the occasion.

DPI, the investment arm of the state-owned Dubai Ports Authority, had emerged the successful bidder for developing and operating the project on BOT basis for 30 years by quoting the highest revenue share of 33.30 per cent to the Port Trust.

The CCEA earlier this month approved the revised draft licence agreement for the Rs.2,118-crore project. The ICTT will be implemented through a special purpose vehicle, India Gateway Terminal Private Ltd, a 100 per cent subsidiary of DPI to start with.

DPI plans to include in other shareholders into the SPV by diluting its stake. However, DPI is stipulated to retain a minimum of 51 per cent equity in the terminal operating company. DPI has already decided to induct a local entity, Chakiat Agencies Private Ltd, which will hold a small stake in the SPV.

As per the plans, the Government will first hand over the existing Rajiv Gandhi Container Terminal (RGCT) at the port to DPI for handling container cargo. Within four years of starting operations at RGCT, DPI will have to construct and shift operations to the ICTT, irrespective of the traffic volumes.

Though DPI will transfer RGCT back to the Port Trust after it commences operations its ICTT, the Government has undertaken not to set up a competing facility for some more time to provide comfort to the investor.

DPI will have complete monopoly over container cargo handling at the Kochi Port until it handles 2.5 million TEUs at the ICTT.

Though the Government has not fixed a target for DPI to handle transshipment cargo directly at the port, the operator will have to handle 1 million TEUs (under certain conditions) within ten years of shifting operations to the ICTT.

Yet another significant feature of the proposal is that the CCEA has given an in-principle approval to provide rail/road connectivity and deepening of the port channel to accommodate large main line vessels of up to 8,000 TEUs at the container terminal at a total estimated cost of Rs.843 crore.

rgictt
New Password
Confirm Password