The Cochin Port Trust (CPT) ended 2018-19 fiscal on a high with a cargo throughput of over 32 million tonnes and operating surplus of more than ₹210 crore.
The net profit rose from ₹13.55 crore during 2017-18 to ₹19.2 crore last year. The port managed to make an additional payment of ₹27.41 crore to the pension fund corpus. It also paid the first instalment of ₹55.85 crore towards an outstanding government debt.
Along with cost-effective services, the port authority is looking to “re-engineer/redefine work profiles to suit the demands of the new-age logistics sector,” said Port Trust Chairperson M. Beena.
Efforts are also being made to diversify the port’s revenue stream. The port, using its expertise in marine construction, has now launched itself in a big way into building jetty and allied facilities as well as other vital activities to augment revenue. According to an official, the port now has a work order portfolio worth around ₹1,000 crore now.
Meanwhile, it is learnt that work is apace on the international ship repair facility on Willingdon Island under Cochin Shipyard Limited.
The facility will be a ship repair system with three transfer parking bays and transfer tracks and capable of docking six vessels simultaneously. The project obtained environmental clearance in early 2018. It is coming up on an area of over eight hectares leased from the Cochin Port Trust.
