Ennore Port to develop Puducherry as a sister port

Chennai:

Ennore port is planning to develop the minor port of Puducherry as a sister port, according to Ennore Port general manager R Senthil Kumar.

Addressing a Trade Meet organized by Ennore Port and Madras Chamber of Commerce and Industry here on Friday, Kumar said that Ennore Port is talking with the Puducherry government to develop the minor port as a sister port of Ennore.

Interestingly, this comes in the wake of Puducherry government proposing to develop the minor port of Puducherry, which is located 160 km south of Chennai, into a deep water port with direct ship berth facilities through private sector participation. 

 Kumar said the provision is there for Ennore Port to acquire minor port and Ennore is planning to develop it as a sister port.

Interestingly, the decision by Ennore Port also comes in the wake of alleged irregularities in awarding the contract to redevelop Puducherry Port in 2010.

Meanwhile, Ennore Port chairman and managing director M A Bhaskarachar said the port would issue tax-free bonds to raise around Rs 1,000 crore. The proposed fund raising is to support its expansion and infrastructure projects. He said the port is also looking at a initial public offering (IPO) of Rs 750 crore this year. He also said Ennore Port is seeking fresh bids for the container terminal which is likely to be awarded by the end of this year.

S N Srikanth, senior partner Hauer Associates said that the growth of major ports has declined in the last five years from 1.9 per cent to 1.3 per cent. He said the global slowdown of economy alone can’t be blamed for this. He said red tape and bureaucracy are equally to be blamed for delay of many port projects.

But Kumar stressed that Ennore port is maintaining a growth of 35 per cent year on year. He said the port is the largest backwater port and efforts are on to make it the deepest port.