The Cochin Port Trust is likely to approach the Japanese International Cooperation Agency (JICA) for help in a feasibility study for the proposed outer harbour off the west coast of Puthuvype island.
Sources said that the Port had approached the Union government for assistance in carrying out the study after the Indian Institute of Technology, Chennai, agreed to do the feasibility study.
However, the cash-strapped Port Trust is learnt to have approached the Union government for assistance. The government has directed the Port to approach the Japanese agency, an independent governmental organization engaged in promoting international cooperation and extending assistance in economic and social development.
An outer harbour is among the several new projects being considered by the port authority as it looks to diversify activities to augment income.
The Port recently re-floated an invitation for expression of interest for carrying out the feasibility study for the outer harbour. The outer harbour is expected to bring in large-scale development activities and long-term economic benefits.
The feasibility study will provide a clear vision on establishing the facility; a traffic analysis and technical aspects like hinterland connectivity; provide financial models for establishing the facility and also conduct an environmental impact assessment.
Along with the outer harbour, the port has decided to establish a free trade warehousing zone in the special economic zone which is envisaged as an international trading hub serving as a link in logistics and supply chains.
The facility is expected to be built on a build, operate and transfer basis on land identified by the port authority.
Meanwhile, the board of trustees of the port have been informed that due to severe financial constraints, the port was not in a position to service or repay its loans to the government though Rs. 50 crore of a Rs. 100 loan taken from the Mumbai Port Trust had been paid back. The Port has the task of generating up to Rs. 200 crore for expenses during the current financial year and 2012-13.
