| NST, January
29th, 2002 - PULAU INDAH, Mon.
- The Indian Government wants
Malaysian private port operators
to Construct, own and manage
a new transshipment hub port
on the island of Vallarpadam
near Cochin.
Its Shipping
Minister, Vedprakash P. Goyal,
said those undertaking the project
would be given 30 years to run
the business before it would
be handed to the Government
of India.
During the
30-year period, the Indian Government
and the operator will share
revenue, he added.
He was speaking
after paying a courtesy call
on Prime Minister Datuk Seri
Dr Mahathir Mohamad at his office
in Putrajaya today.
Goyal and his
delegation comprising Shipping
Ministry secretary M.P Pinto,
additional private secretary
to Union Shipping Minister Ram
M. Agarwal, Cochin Port Trust
Dr Jacob Thomas chairman and
Indian High Commissioner to
Malaysia Veena Sikri also paid
a courtesy call on Transport
Minister Datuk Seri Dr Ling
Liong Sik.
They later
took a guided tour of Westport
led by its executive chairman
Tan Sri G. Gnanalingam.
Goyal said
he discussed with Dr. Mahathir
about forging further business
ties.
"I also took
the opportunity to invite Dr
Mahathir to India at his arliest
convenience."
Goyal said
he also discussed Malaysia's
investment in India's developing
port sector with the Prime Minister.
"We are keen
on constructing the long-delayed
new transshipment hub in Vallarpadam.
This is an excellent location
as it is on the international
shipping route which passes
Colombo," he added.
The project
which includes construction
of 600-metre long berths, will
cost about US$500 million (RMl.9
billion).
Goyal said
whoever undertook the project
must start work by July and
complete it within two years.
"There is a
lot of unexplored potential
in Vallarpadam."
India currently
handles 2.5 million TEUs per
annum at its 140- odd minor
ports with major privatised
ports being Chennai, Jawaharlal
Nehru Port Trut and Tuticorin.
The fourth privatized port will
be Vallarpadam.
Meanwhile,
GnanaIingam said he was interested
in the proposal extended to
build, own and manage Vallarpadam.
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