Financial Aid For Kochi Port

Published on: 26 Mar, 2013
Published under: General Kerala News, Kerala Business News, Kerala Travel News, Politics News Kerala

26 March 2013

Kerala Govt is seeking Rs 400-crore assistance from the Shipping Ministry to tide over the financial crisis of Kochi Port. State Port Minister K. Babu pointed out that the Kochi Port is expected to better its performance in the next three years following the relaxation of the Cabotage Law. Shipping Ministry has also forwarded a proposal of the port to the Finance Ministry for a Rs 400-crore assistance to carry out maintenance dredging in berth basins.

As the siltation is high in the channel, the port has to carry out frequent dredging in ICTT (international container transhipment terminal) berth to maintain the depth, he said, adding that the rising expenditure in dredging cost is a problem faced by the port and is affecting its financials.

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