State to focus on coastal shipping

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Follow us:WhatsappFacebookTwitterTelegram.cls-1{fill:#4d4d4d;}.cls-2{fill:#fff;}Google NewsKerala is all set to cash in on the benefits of the coastal shipping projects. By 2015, the state will have 20 per cent of its total cargo movement via coastal shipping.“In the state all kinds of cargo, including the hazardous ones, are being transported through roads. In an effort to avoid the transport of cargo through thickly-populated areas, the government has decided to make 20 per cent of the cargo movement through coastal shipping by 2015 and 40 per cent by 2020,” said Excise and Ports Minister K Babu.The Vizhinjam International terminal will be given prime importance. The construction and maintenance of the terminal for the coming 30 years will be through public-private-partnership (PPP) mode. The development of Kollam, Alappuzha, Kodungalloor, Ponnani, Beypore and Azheekkal ports are also under consideration. The oceanarium project here is under consideration, the Minister said. In an effort to promote coastal shipping initiative, the government has decided to promote private investment in the sector.In addition to discounts in port charges, they will also be given loans through the Coastal Shipping Fund. The investors will be given 40 per cent of the total construction cost as loan at two per cent interest rate and the remaining amount as loan at 10 per cent interest rate. The loans will be given for a period of seven years.Ending a long wait, the state government has finally decided to set up the Kerala Maritime Board, which will act as a single window system for the investors in the shipping and port sector.first published:September 15, 2012, 12:15 ISTlast updated:September 15, 2012, 12:15 IST
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Kerala is all set to cash in on the benefits of the coastal shipping projects. By 2015, the state will have 20 per cent of its total cargo movement via coastal shipping.

“In the state all kinds of cargo, including the hazardous ones, are being transported through roads. In an effort to avoid the transport of cargo through thickly-populated areas, the government has decided to make 20 per cent of the cargo movement through coastal shipping by 2015 and 40 per cent by 2020,” said Excise and Ports Minister K Babu.

The Vizhinjam International terminal will be given prime importance. The construction and maintenance of the terminal for the coming 30 years will be through public-private-partnership (PPP) mode. The development of Kollam, Alappuzha, Kodungalloor, Ponnani, Beypore and Azheekkal ports are also under consideration. The oceanarium project here is under consideration, the Minister said. In an effort to promote coastal shipping initiative, the government has decided to promote private investment in the sector.

In addition to discounts in port charges, they will also be given loans through the Coastal Shipping Fund.

The investors will be given 40 per cent of the total construction cost as loan at two per cent interest rate and the remaining amount as loan at 10 per cent interest rate. The loans will be given for a period of seven years.

Ending a long wait, the state government has finally decided to set up the Kerala Maritime Board, which will act as a single window system for the investors in the shipping and port sector.