The Cochin Port Trust is planning to lease out its dry dock and slipway on an EOT (Equip, Operate and Transfer) basis for a period of 30 years.

According to sources, vessels with a length of 66 mtrs, draft of 4 mtrs and 450 tonne DWT (dead weight tonnage) can be accommodated in the dry dock. The workshop undertakes repairs and maintenance of floating craft and equipment owned by the port.

Presently, the dry dock is being utilised for catering to the repairs and maintenance of port's various flotillas and dredgers. The slipway adjacent to the workshop has not been used since 2004 as there is heavy siltation and the area is required to be dredged.

The port has to invest large amount of money for the procurement of at least some special purpose machines so as to attract outside job works in commercial terms. Besides the infrastructure available is non-remunerative on account of low productivity given the average age profile of the workshop manpower, over-staffing and obsolete technology. It is becoming difficult to keep the workshop commercially viable.

As per the terms and conditions, the operator shall absorb the 332 workers and extend service conditions, emoluments, perks, facilities not inferior to those being offered by the port. Also, the operator should allot priority for occupation of dry dock to at least 4 craft of the port, which may include craft hired or nominated by the port.