The Cochin Port Trust (CPT) is expected to soon offer an employees stock option plan (ESOP) for its workers at the recently-sanctioned Vallarpadam container terminal project here.
If implemented, CPT will be the port in the country to offer such a plan. Sources at CPT said that the port has initiated dialogues at various levels in this regard.
It is also learnt that P&O Ports of Australia, which has submitted its tender for the development of a container terminal at Vallarpadam, has also evinced interest in providing ESOP to the workers. The container terminal project is expected to take off in three months.
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CPT currently holds a 26 per cent equity in the container project. Sources pointed out that it is yet to be decided whether to offer the ESOP option from CPT's holding or from P&O's side. The management has already held first round of negotiations with port workers unions. It is learnt that the unions have also responded positively in this regard.
According to sources, oil majors like Bharat Petroleum (BPCL) and Indian Oil Corporation (IOC) have expressed interest in setting up a bunkering station off the coast here.
The facility, which will help transport fuel to vessels that cannot berth at CPT, is expected to give a boost to the developmental activities at the port.