The V.O. Chidambaranar Port Trust, Tuticorin, registered an all-time high operating profits of Rs.259.89 crore and net surplus (after tax) of Rs.101.30 crores. This is the first time, the port has achieved more than Rs.100 crore net surplus, A. Subbiah, Chairman of the port, said in a statement.
Besides, the port achieved an all-time high record traffic of 25.73 million tonnes for the year 2010-11 surpassing the previous record of 23.79 million tonnes handled in the year 2009-10, registering 8.16 per cent growth rate. The port handled 4,67,752 TEUs (Twenty Foot Equivalent Units) surpassing the previous years' container traffic of 4,39,948 TEUs, registering a growth rate of 6.32 per cent.
The cargo handling performance of the port was 2.38 per cent higher than the target of 25.13 million tonnes set by the Ministry of Shipping. The container traffic was 5.11 per cent more than the target of 4,45,000 TEUs.
The capital dredging project for dredging and deepening the approach channel and basin to cater to 12.8-metre draught vessels from the existing 10.7 metres at an estimated cost of Rs. 538 crore was under progress and expected to be completed next year. It would facilitate handling of Panamax vessels of 75,000 DWT (Dead Weight Tonnage) capacity at the Inner Harbour, according to statement.
For handling thermal coal for the NTPL Power project, the port was constructing North Cargo Berth – I (NCB-I) at an estimated cost of Rs. 37.54 crore. North Cargo Berth II (NCB-II), at an estimated cost of Rs. 332.16 crore under public-private partnership, was under construction for handling bulk cargo.
Based on the orders of the Supreme Court of India, the project of conversion of 8th Berth Container Terminal at an estimated cost of Rs. 312.12 crore would be taken up to augment additional container handling capacity of the port.
Floating tenders for construction of two million tonne -capacity Shallow Water Berth at an estimated cost of Rs.65.37 crore for handling construction materials was under progress. These projects would be completed by next year. One more shallow water berth for handling cement at an estimated cost of Rs.80 crore and mechanisation of berths at an estimated cost of Rs.80.10 crore had been envisaged.
The port had also planned future development projects such as North Cargo Berth III at an estimated cost of Rs.420 crore.