The Hindu Business Line : Notional revenue loss of ChPT put at Rs 60 cr

THE Chennai Port Trust (ChPT) is likely to make a notional revenue loss of around Rs 60 crore due to shifting of thermal coal to Ennore port, according to Mr P.C. Parida, Financial Advisor and Chief Accounts Officer, ChPT, told newspersons here on Monday.

The port trust was getting around Rs 140 per tonne for handling thermal coal for the Tamil Nadu Electricity Board (TNEB), he added.

The approximate net surplus for the ChPT for the year ended March 31, 2002 would be around Rs 60 crore (Rs 37.20 crore). Its total income is likely to be Rs 480 crore (Rs 473.73 crore) and total expenditure Rs 410 crore (Rs 437.13 crore).

According to the ChPT Chairman, Mr P. Baskaradoss, following the Government's proposal to make Chennai a clean and a hub port in the East Coast, iron ore would also move out of Chennai in a couple of years. Despite having old equipment (over 20-years old), the iron ore terminal handled 7.44 million tones during 2001-02, compared to 6.82 m.t. the previous year.

The loss of thermal coal would be substituted to a certain extent by handling other clean cargoes and increased container traffic. The port trust plans to create `tankage' facilities for storing liquid bulk cargoes such as vegetable oil and edible oil. After the shifting of thermal coal, there would be enough space for creating such facilities, he added.

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