Kochi international container transshipment terminal dedicated to nation
11 Feb 2011
Prime minister Manmohan Singh today dedicated the prestigious International Container Trans-shipment Terminal (ICTT) project at Vallarpadam in Kochi - a major milestone in the development of the country's maritime and logistics infrastructure.
Launching the Rs3,250-crore first phase of the project in Vallarpadam off the Kochi coast, the prime minister said it is a symbol of how private public partnership can be a commitment to the public good. "It is also a symbol of cooperation with our West Asian neighbours," Singh said.
Of the Rs3,250 crore investment, Rs1,650 crore has come from the central government while Dubai Ports World (DPW) its BOT operator, invested Rs1,600 crore. The BOT is for 30 years.
Manmohan Singh had laid the foundation stone for the project in February 2005.
Kochi also wrote a new chapter in maritime trade with OEL Dubai, the first cargo-carrying vessel, berthing at the Vallarpadam International Container Transshipment Terminal today.
OEL Dubai, a Panama-flagged feeder vessel with about 500 containers, arrived at Kochi from Colombo and will return to Colombo in a few days.