Chennai: The Union Shipping Ministry has chosen Vinayaka Chathurthi to inaugurate the administrative office for the Enayam major port project in Colachel in the state, probably, hoping that Lord Ganesh will clear the obstacles on the way to establish this transshipment port at Enayam and ensure success in the venture.
When Union Minister of State for Road Transport, Highways and Shipping Pon Radahkrishnan inaugurates it at Enayam in his home district of Kanyakumari district on Monday, he would be the happiest person, as commencing the work for this major port signifies the fulfillment of the BJP’s poll assurance.
It would ensure direct jobs to 5,000 people besides 20,000 jobs through indirect employment once established. But on the larger canvass, it will play a crucial role for the Indian shipping sector.
The project has already left the neighbouring Kerala distressed over the prospects of its Vizhinjam transshipment terminal project and now made Colombo apprehensive.
The port in the island nation has been enjoying the largest share in handling India’s transshipment cargo during 2014-15, accounting for 48 per cent followed by Singapore: 22 per cent and Port Klang at 10 per cent according to data.
The Enayam port is expected to reverse this trend and also dependency on the international hub ports, leveraging it to handle the bulk of India’s transshipment cargo, as it is located near the global East-West shipping route and endowed with adequate draft and access to a large hinterland, according to sources.
A Special Purpose Vehicle (SPV) is likely to be formed between V.O. Chidambaranar Port Trust, Tuticorin, Kamarajar Port Trust (Ennore) and Chennai Port Trust with 40 per cent, 40 per cent and, at 20 per cent stake respectively, for the Enayam port development.
The first phase, sources informed, will be completed by 2018, with two berths of 400 metre quay each, providing an annual capacity of 1.6 million TEUs. The volume is projected to be 1.7 million TEUs by 2020, 4.9 million TEUs in 2025 and 6.7 million TEUs by 2030.
