Major ports see Rs 3,456 cr operating profit this fiscal

Major state-owned ports recorded an operating profit of Rs 3,456.95 crore in the current fiscal up to January and several steps are being taken to modernise them, the government said today.
Observing that modernisation and upgradation of ports was an ongoing process, Shipping Minister Nitin Gadkari told the Lok Sabha that a total cargo handling target of 644.35 MTPA (million metric tonnes per annum) has been set for 13 ports, including Kandla and Paradip, for the next financial year.
He said the operating profit of major ports stood at Rs 3,456.95 crore in the current financial year up to January. In 2014-15 period, the same was at Rs 3,610.50 crore.

For next fiscal, Gadkari said the cargo handling target for 13 ports has been set at 644.35 MTPA, with 105 MTPA expected at Kandla Port Trust.
"During 2015-16 up to February 15, 2016, 70.56 MTPA has been added. Around 132.95 MTPA is likely to be added during 2016-17," the Minister said in response to a query on the additional capacity proposed to be added at various ports.
As part of modernisation and upgradation of ports, Gadkari said various steps are being taken including implementation of "104 initiatives to reduce time and cost of operations in ports and benchmarked to international standards".

"30 (initiatives) have been implemented and the remaining will be implemented over various phases by 2019," he added.
To a query about Cochin Port Trust, Gadkari said there are financial viability problems and the Centre is trying to help it. He also stressed that Cochin Port should create more business, improve finances and solve their own problems.