Financial Daily from THE HINDU group of publications
Friday, Mar 08, 2002
Financial Daily from THE HINDU group of publications Friday, Mar 08, 2002 |
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Logistics
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Shipping Chennai co to handle Vizag fishing harbour Amit Mitra
VISAKHAPATNAM, March 7 THE Vizag port has set in motion its plans to privatise the fishing harbour complex, which has been the operational base of the Indian deep sea fishing industry. Authoritative sources told Business Line that the slipway complex, dry dock and lay-by jetty in the fishing harbour were being handed over to a private company. The port is likely to finalise the offer of the Chennai-based company Tebma Shipyard for operating and maintaining these facilities for a period of five years. The decision to privatise these facilities follows the guidelines issued by the Ministry of Shipping to all ports for leasing out the existing assets. As per the Ministry's guidelines, such existing facilities at ports should be considered for privatisation only if they require an additional investment. The sources said two firms were in the race to privatise the fishing harbour — while Tebma Shipyard Ltd quoted Rs 5.70 crore for the facility for a five-year period, another Chennai-based company, Chidambaram Shipcare Pvt Ltd, offered Rs 3.62 crore. The decision of the Ministry to usher in privatisation in the major ports is based on the assessment that major expansion is needed in the port infrastructure. The areas identified for privatisation in the major ports include construction/creation of additional assets such as container terminals, operation of bulk, break bulk, multi-purpose and specialised cargo berths, warehousing, container freight stations, captive power plans and dry docking and ship repair facilities, leasing of equipment for port handling, pilotage, leasing of floating craft and captive facilities for port-based industries.
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