Recession hits MPT too
12 April 1999 23:31 IST With the world recession also hitting iron ore exports from Goa, the Mormugao Port Trust, Asia's oldest natural port built during the Portuguese regime, has started moving its operations towards a multi-commodity port in a planned manner.
To begin with, the MPT has signed an agreement with ABG Goa Port Pvt Ltd to redevelop and operate two multipurpose bulk cargo berths, with an investment worth Rs 224 crore. Having a capacity to handle worth six million tonnes of cargo, the berths are likely to begin its operation within 20 months.
"The agreement on BOOT basis is for 30 years, though we will start getting returns in 15 years", says Saket Agarwal, CMD of ABG Goa Port Pvt Ltd. The MPT has agreed to retain only 18 per cent of the revenue returns on cargo handling.
Once comes into operation, the first Indian large scale private venture in the port trusts of the country, has been assured five million tonnes of traffic of coal for three projects in Hospet-Bellary sector of Karnataka for the steel plants there.
"But this would not meet the requirement of increasing traffic of the MPT", admits chairman Dr Jose Paul, as the rise in estimated traffic by 2002 is expected to be 421 MT while the existing capacity of the port is 251 MT even after putting it to optimum use.
The MPT is thus immediately planning for seven more berths in the Vasco bay of river Zuari, adjacent to the existing berths, though only three of it would be utilised for general cargo. The rest one each would be allotted for the navy, cost guard, oil companies and a fishing jetty for the local fishermen there.
The MoU with the naval authorities is expected to signed shortly, after which the port authorities plan to invite tenders for a private venture on BOT basis, to be completed in four years. The project worth Rs 250 crore is likely to meet the requirement partially.
The central water and power research centre has also cleared MPT's proposal for reclamation, but only for 350 acres, and not 750 acres as it had proposed due to ecological reasons. The final report by Frederick Harris on economic, technological and environmental aspects is also expected to come by the week end, after which the MPT is planning to approach the World Bank and the Asian Development Bank to fund the prestigious project worth Rs 600 crore.
Simultaneously, the MPT is also planning outer harbours at the Baina beach, exclusively for petroleum products. Shifting the existing oil tanks in the port town to Zuarinagar plateau next to the Zuari Industries Ltd, a special 13 km long pipeline would be laid for pumping oil from this harbour. The ZIL is planning to construct new oil tanks there as a joint venture project. Both the projects are expected to be commissioned in five years.
