<p>It will have a direct bearing on the country’s sea trade as a substantial portion of Indian container traffic presently gets transshipped through foreign ports like Colombo, Singapore and Dubai. Since most Indian ports can handle only small ships, the mother ships would be anchored at big ports like Dubai, Singapore and Columbo and containers from India are transported to them using smaller feeder ships. Besides incurring an additional expense, this transshipment process also consumes more time. <br /><br />The Vallarpadam ICTT by handling mother ships is expected to save costs by an average $ 300 per box and time of seven to ten days which would hugely benefit exports and imports. <br /><br />The ICTT has been built by Dubai Ports World (DP World) on a build-operate-and-transfer (BOT) basis. DP World has invested Rs 1,600 crore in the project while the Union government, through the Cochin Port Trust, has invested an equal amount by way of bringing road and rail connectivity to the project. <br /><br />CPT chairman N Ramachandran said that according to the agreement between the CPT and DPW, the construction of the terminal, its equipment and operations would be the responsibility of DP World while providing the road and rail connectivity to the site and deepening of the shipping channels would be the CPT’s responsibility. <br /><br />According to the agreement, the DPW will operate the terminal for a 30-year period after which the assets will come back to Kochi port. This apart, one-third of the gross revenue would go to the CPT and the rest to the DPW. The opening of the ICTT will increase the volume of foreign trade and exploit the cargo handling potential of Indian Railways and Konkan Railway as well as National Highways. <br /><br />The terminal also opens up immense potential for allied industries like container freight stations, inland container depots, port-based SEZs, cargo through inland waterways, logistics and warehousing centres. <br /></p>
<p>It will have a direct bearing on the country’s sea trade as a substantial portion of Indian container traffic presently gets transshipped through foreign ports like Colombo, Singapore and Dubai. Since most Indian ports can handle only small ships, the mother ships would be anchored at big ports like Dubai, Singapore and Columbo and containers from India are transported to them using smaller feeder ships. Besides incurring an additional expense, this transshipment process also consumes more time. <br /><br />The Vallarpadam ICTT by handling mother ships is expected to save costs by an average $ 300 per box and time of seven to ten days which would hugely benefit exports and imports. <br /><br />The ICTT has been built by Dubai Ports World (DP World) on a build-operate-and-transfer (BOT) basis. DP World has invested Rs 1,600 crore in the project while the Union government, through the Cochin Port Trust, has invested an equal amount by way of bringing road and rail connectivity to the project. <br /><br />CPT chairman N Ramachandran said that according to the agreement between the CPT and DPW, the construction of the terminal, its equipment and operations would be the responsibility of DP World while providing the road and rail connectivity to the site and deepening of the shipping channels would be the CPT’s responsibility. <br /><br />According to the agreement, the DPW will operate the terminal for a 30-year period after which the assets will come back to Kochi port. This apart, one-third of the gross revenue would go to the CPT and the rest to the DPW. The opening of the ICTT will increase the volume of foreign trade and exploit the cargo handling potential of Indian Railways and Konkan Railway as well as National Highways. <br /><br />The terminal also opens up immense potential for allied industries like container freight stations, inland container depots, port-based SEZs, cargo through inland waterways, logistics and warehousing centres. <br /></p>
