Rs 300 Crore Coastal Fund by Kerala

Published on: 18 Nov, 2013
Published under: Thiruvananthapuram District News

17 Nov 2013
Thiruvananthapuram

The Kerala State Government have created Coastal Shipping Promotion Fund in order to promote the shipping activities in Coastal areas. K. Babu Minister of Ports and Fisheries said that a fund of Rs 300 Crore is set for its promotion.

An initial allotment of Rs 3 crore has already been made to this fund, he said while addressing the 15th meeting of the Maritime State Development Council in Bangalore. The aim is to divert at least 20 per cent of cargo by 2015 and 40 per cent of cargo and passenger by 2020. The Coastal Shipping Project has officially been flagged off at Kollam Port last weekend.

In the first stage, containers will be transported between Kollam and the Vallarpadam International Container Transhipment Terminal. Later, it will be operated between ports like Vizhinjam, Beypore Kodungallur and Azhikkal also, the Minister added.

For attracting more cargo into this mode, an incentive at Rs1 per tonne/km for cargo and Rs1 per passenger km has been declared for a period of one along the coastal stretch. The State has 17 notified non-major ports dotting the 590 mm coast line, the Minister said.

Of these, Azhikkal (Kannur); Beypore (Kozhikode); Ponnani; Kodungallur; Alappuzha; Kollam; and Vizhinjam are in various stages of development. PPP mode has been adopted for the purpose. ABG Cements has shown interest in developing a cement terminal at Azhikkal at a cost of Rs 170 crore.

Other modules such as a multi-purpose terminal; a container handling terminal; ship repairing facility and an LPG terminal also are being planned at Azhikkal.

Source– The Hindu Businessline

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