The Cochin Port Trust has selected a consortium of companies to prepare a master plan for the re-development of Willingdon Island. This will pave the way for the creation of a new business district.
The plan is expected to make optimal use of land for long-term economic benefits and would make the island an accessible public destination.
The group of companies comprises Maritime Consultancy, Navi Mumbai; Groupe SCE (I) Pvt. Ltd; Bangalore, and Infrastructure Development Corporation (Karnataka) Ltd., Bangalore.
In its last meeting the Board of Trustees of the Cochin Port has approved a study to be carried out at a cost of Rs.75 lakh.
The study, expected to be completed by June, will cover areas like the assessment of business potential of CoPT for different cargo, both currently being handled and those which may be handled in the future.
Traffic forecast for the next 30 years in the backdrop of the developments taking place at the International Container Transshipment Terminal will also be part of the study. Planning the functional requirements of the port and the proposed business district based on the traffic projections will are also within the scope of the study being commissioned.
There will also be a detailed study of different investment models and financial structuring, including viability analysis, and an implementation schedule.
Preparation of a perspective land use plans for the Willingdon Island, including its water front, in a phased manner also forms part of the study. Cochin Port had appointed Transcare Logistics India, a consultant in June 2006 to prepare a business plan for the Kochi port under a directive from the Planning Commission. The scope of the study then included defining a long-term vision for the port; establishing goals to be achieved over a period of seven years; to identify strategies to be followed to reach the goals and to identify sources of financing for the proposed investments.
The projects identified then included the Vallarpadam ICTT, single point mooring facility for crude handling, LNG and LPG terminals, bunkering terminal, international cruise terminal, distribution park on Vallarpadam Island, a business district and upgrading of Willingdon Island.