Ennore and Chennai ports to make Chennai the Detroit of Asia: T R Balu
18 Oct 2008
Union minister of shipping, road transport and highways, T R Baalu today that Ennore Port, along with Chennai Port, would be a catalyst "in making Chennai the Detroit of Asia by facilitating seamless exports and imports, and it would be the Engine of industrial and economic development of not only Tamil Nadu but also its hinterland in the other southern States."
Presiding over the signing ceremony of the memorandum of understanding between the Ennore Port Ltd and Nissan Motor (India) Pvt Ltd for export of Cars through Ennore Port in Chennai today (See: Nissan to be first automaker to export from Ennore Port) , Baalu said that the country's economy is poised to take a great leap and to give the economy boost, the centre has planned to give an impetus to infrastructure development.
Balu said that over Rs20 lakh crore would be invested during the five years of 11th five year plan for infrastructure development, out of a total investment of over Rs36 lakh crore, which is 56.4 per cent of the total investment.
Baalu said that the department of shipping has launched the National Maritime Development Policy (NMDP), focusing on the port sector in India during the past four years that had led to a 36-per cent increase in the handling capacity from 384.5 million tonnes in March 2004 to 532 million tonnes on March 2008 and a traffic growth of 51 per cent from 344.79 million tonnes in 2003-04 to 519.23 million tonnes in 2007-08.
He said that the NMDP comprises 387 projects involving a total investment of Rs100,339 crore (approximately $21 billion), out of which Rs55,804 crore was for the port sector and the remaining Rs44,535 crore for the shipping and inland waterway transport sectors the projects scheduled for completion by 2011-12.
Baalu disclosed that Rs13,284 crore had been allocated by the department of shipping, to Tamil Nadu for the development of the three major ports - Ennore, Chennai and Tuticorin. Of this, Ennore Port's share at Rs.6,466 crore was nearly half.
Ennore Port, which is the first corporate port of the country, is also the newest port. The total investment by the private sector firms operating the Ennore Port through BOT has been around Rs1100 crore. In additionthe port is investing Rs300 crore in connectivity and harbour deepening projects.
