Having acquired nearly 650 acres of land from the Salt Department, the Kamarajar Port Ltd (KPL), has started the process of revaluing its entire land and waterfront assets.
So far, three government-approved valuers have submitted their bids and a final decision will be taken soon.
A decision to this effect was taken by KPL official soon after the launch of ‘Land Policy for Major Ports’ that would enable the ports to leverage its land banks for attracting new projects to bolster its business prospects.
KPL has a land bank of over 2,800 acres, of which 1,392 acres are within the port compound wall; 650 acres outside the port compound wall; and 118 acres on the waterfront (jetties, berths, breakwaters); and 650 acres just opposite the port.
To allocate the land for new projects, KPL has sought expression of interest (EoI) from interested parties for setting up of any port-based industries, special economic zone or free trade zone. The interested parties have been given time till April 16 to submit their proposals.
According to the sources, KPL has earmarked most of its land for the new and future projects such as multi-cargo terminal, container terminal, car parking yard and construction of third coal berth for Tamil Nadu Generation and Distribution Corporation. The construction of Rs.151 crore multi-cargo terminal and Rs.1,270 crore container terminal are expected to commence during October 2014. Construction work at third coal berth will begin soon.
“We have started the land revaluation process to keep in tune with the prevailing market rates. Moreover, the rate for port lands was fixed some three to four years ago. After the announcement of land policy, all the major ports in the country are going in for revaluation of its land so that it would help us to undertake various development works on a tender-cum-auction basis,” said a KPL official.
