Kamarajar Port Posts 10.7% Growth, Plans Free Trade Warehousing Zone
Throughput at Ennore-based Kamarajar Port Ltd increased 10.6 per cent in 2014-15 to 30.25 million tonne as against 27.34 mt registered during the previous year.
The port has posted a 5 percent growth in pre-tax profit to Rs 421.47 ($70 million). Operating income was up 12.3 per cent to Rs 563.64 crore for the period as compared with Rs 501.93 crore.
The major share of the throughput was imports of coal by the Tamil Nadu Electricity Board (TNEB). The port located at Ennore to the north of Chennai now primarily handles coal import and car export.
"We have posted over 12 per cent increase in operating income and over 5 per cent in profit. We were not expecting a major jump, since there were no more new terminals coming into operation. We expect a huge jump in the year 2016-17," said M S Bhaskarachar, chairman-cum-managing director, Kamarajar Port Ltd.
The port expects to achieve cargo throughput of 32.2 mt during FY16, and a higher throughput for the year after, on the back of proposed capacity expansion.
Diversified cargo handling from next year will contribute to a quantum leap in Kamarajar Port’s performance and competitiveness.
Bhaskarachar said that the port is also planning to set up a 100-acre Free Trade and Warehousing Zone for which a master plan is being prepared.
Construction of a 1.4-million TEU container terminal is progressing well and preliminary work on multi-cargo terminal by a private concessionaire are progressing fast.
The first phase of the Container Terminal by Adani Ennore Container Terminal Pvt Ltd will go on stream in the first quarter of 2016 compared with the scheduled date of January 2017. A multi-cargo terminal will be set up by Chettinad International Bulk Terminal Pvt Ltd with a capacity of 2 million tonnes a year and 270 m quay. Construction will start in July and be completed in 24 months, he said.
Ennore Port, officially renamed Kamarajar Port Limited, is located on the Coromandel Coast about 24 km north of Chennai Port, Chennai, it is the 12th major port of India, and the first port in India which is a public company.
The port faces stiff competition from L&T’s port at Kattupalli to the north handling containers, the Chennai Port and the Krishnapatnam Port in Andhra Pradesh, which has a fast developing industrial hinterland.
