Kochi port, which is taking steps to implement a
Rs 800 crore wharf project at old Matttanchery, asked the state-owned KITCO to carry out a feasibility study for this purpose.
The study would be completed in two months time. The proposed wharf would have 400 meter waterfront with 20 acre of back-up area.
Meanwhile, the port received response from Samsung C&T of Korea for the expression of interest it floated some time ago. The Korean firm showed interest in developing a bulk cargo terminal at the Kochi port on public–private partnership basis.
The objective of the expression of interest floated by the port is to assess the market trend and response from potential bidders.The selected bidder will design, develop, finance and operate the project for 30 years.
The port decided to develop the wharf on a PPP model so that potential investor will meet the cost of developing the port.
The present wharf in old Matttanchery is in a dilapidated stage and is not possible to refurbish its three berths economically. Moreover, it is not possible for the port to carry out its reconstruction by using its own funds owing to present financial condition.
The structure of the Mattanchery Wharf, constructed during 1950Â’s, became weak and cannot take heavy load.
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