KOCHI: There will be a huge growth in the profit of the Cochin Port Trust (CPT) once the proposed GAIL pipeline project is complete, said Union Minister of Shipping Nitin Gadkari. He was speaking after inaugurating the R970-crore International Ship Repair Facility (ISFR), an expansion project of Cochin Shipyard Ltd (CSL) at Willingdon Island on Friday.
Gadkari said the Union Government was ready to sanction development projects for the state, but issues in Kerala, like difficulty in land acquisition, posed a threat for the execution of projects. ‘’Projects like ISRF will definitely help the state to improve its position in the industrial sector of the country. Ships from India are being taken to countries like Malaysia for repairing,” said Gadkari.
According to the Minister, the state government should make use of the advantages of a Central government which is ready to bring in development projects. Referring to the tourism sector of the state, Gadkari pointed out Kerala had tremendous opportunities in seaplane services. ‘’Without development, there will be no job opportunities; without job opportunities we can’t eradicate poverty,’’ he said.
Gadkari is of the opinion the CSL, which is technically and financially very sound, should explore the possibilities of setting up branches in other states. The Minister also said the Union government was planning to launch a ferry service from Thiruvananthapuram to Chennai with a stopover at Kanyakumari.
The proposed ISRF will be able to repair 80 more ships besides its existing facility of 100 ships per year.