Kochi, Feb. 11: After a two decade long wait and much labour pains’ the country’s first trans-shipment terminal was born at Vallarpadom island off Kochi on Friday.
The Prime Minister, Dr Manmohan Singh, inaugurated the project that brings shiploads of hope to development-starved Kerala.
The project is being implemented with the participation of the Dubai Port World (DPW) and is expected to fuel economic growth across South India and redefine the development perspective of Kerala.
Dr Singh also underlined this point throughout his address while dedicating the terminal to the nation.
“There is no reason why the rich human potential, geographical location and resources cannot be exploited to build Kerala into a front ranking industrial state of the country,” he said.
The Prime Minister also outlined his vision for Kochi and said he foresaw the emergence of several port-based service industries and processing centres in its proximity that will take advantage of the logistics to be provided by the terminal.
“The terminal is the centre-piece of a comprehensive plan to develop Kochi as an economic and logistical hub of the region,” said the Prime Minister.
Because of the absence of a global hub port and the lack of transshipment facilities, about 60 per cent of India’s export and import containers were being transshipped through outside ports such as Singapore and Colombo, he said.
“This costs an additional expenditure of $300 per container and an extra 7-10 days of transit time,” said the Prime Minister. “With the new facility, Indian exporters can now access mainline container vessels.”
Exporters in South India will now be able to reach their containers easily to Kochi since the project is connected with the rail network by an 8.5-km rail bridge and with the NH 17 and NH 47 by a six-lane road.
Dr Singh said the project symbolised the keen interest of the UAE in investing in India and that the terminal would be an enduring symbol of the close ties India wished to build with its extended neighbours in West Asia.
The Chief Minister, Mr V.S. Achuthanandan, and the deputy chairman of the Dubai executive council, Sheikh Ahmed bin Saeed Al Maktoum, offered felicitations.