In order to reverse the decline in cargo traffic at Kolkata Port, the authority planned to invest
Rs 15,000 crore on various development projects till the end of the 12th Five Year Plan (2016-17).
Cargo handling at the port declined to 43.245 million tonne (mn t) in 2011-12 compared to 47.545 mn t in the previous fiscal. The decline is attributed mainly to a fall in liquid bulk as also in crude oil movement.
Meanwhile, the port is planning to sell or lease land in seven to eight locations to cover a part of its pension liabilities of Rs 3,000 crore (Rs 30 billion).
Recently, the central government appointed RPS Kahlon as the new Chairman of the Kolkata Port Trust (KoPT). Prior to his appointment as the KoPT Chairman, the 1984 batch IAS officer, served as the Principal Secretary to West Bengal environment department.
Kahlon also served as Principal Secretary to departments such as transport, fisheries, sports and youth services, fire and emergency services etc.
The port declared its net profit for the last fiscal at Rs 90 crore -- a jump of 28.57 percent over the Rs 70 crore profit registered the previous year.