CPT to establish Vallarpadam Container Terminal on its own

Kochi: With Cochin Port Trust (CPT) deciding to establish the Rs 3,000-crore Vallarpadam Container Terminal on its own, there will be a further delay in the ambitious project, first proposed about 20 years back.

The Rajiv Gandhi Container Terminal at CPT will be the immediate beneficiary after the board asked its chairman Jacob Thomas to give immediate attention to the terminal, which will increase the cargo flow to Kochi.

The upgrading of the Rajiv Gandhi Container Terminal was lying unattended as the board was expecting the successful bidder to start operations from the terminal soon.

For setting up the Vallarpadam Terminal, the CPT is exploring the possibility of raising funds through the Cochin International Airport model, through private placement of shares to the public.

The Vallarpadam Container Terminal was one of the projects listed by Prime Minister A B Vajpayee in the Kumarakam Musings. The union shipping secretary is expected to arrive in the city next week to discuss the future course of action.