December 02, 2008

Ennore Port to divert iron ore cargo vessels to Chennai Port

BL reported that Ennore Port Limited has decided to shift iron ore cargo vessels to Chennai port from April 2009, to complete its ongoing expansion projects on time without cost overrun. As on date, 25% of the dredging work is over and the liquid cargo terminal will be ready for commissioning by September 2008.

Mr S Velumani CMD of Ennore Port Trust said that are not competing with the Chennai Port, but are keen to lend a helping hand.

He added that “In fact, the Chennai port is eagerly awaiting early completion of the Ennore port’s expansion plan so that it can move iron ore and coal cargo vessels to the modern port and transform itself into a clean and greener port by giving preferences to general cargo, passenger ships and cruise.

According to Mr Velumani, Ennore port has completed dredging 1.1 million cubic meters as against 4.2 million cubic meters and it will be completed by August 2008.

in 2007, Ennore Port handled about 2.2 million tonnes of iron ore through temporary facility. It is now constructing a new facility costing INR 480 crore that can handle 12 million tonnes of iron ore per annum. Ennore port is also in the process of setting up a common user coal terminal with 8 million tonnes per annum capacity at a cost of INR 400 crore and a liquid cargo terminal with 3 million tonnes per annum capacity costing INR 200 crore. The new iron ore and coal terminals will be ready by August 2010, and the containers berth by April 2011.

Ennore port achieved operating income of INR 127.21 crore in 2007 as against INR 101.04 crore achieved in 2006. The profit before tax stood at INR 36.01 crore as against INR 30.64 crore.