The VOC port reports an 11.5 percent increase in cargo handling in FY23

VO Chidambaranar Port in Thoothukudi reported an 11.5 percent increase in cargo throughput to 38.04 million tonnes (mt) for the fiscal year ended March 31, 2023 from 34.12 mt a year earlier. Imports accounted for 28.60 mt; Exports 8.95 million tons and transhipment 0.49 mt.

The port has surpassed the target of 36 tonnes set by the Department of Ports, Shipping and Waterways for the Inland Revenue, a press release said.

The VOC Port Authority posted a record 87 per cent growth in net profit after tax in FY23 to £256.14bn (£136.80bn). It also reported its highest-ever full-year total revenue of £816.17 billion in FY23 (£654.52), a 25 per cent increase.

In terms of operational efficiency, total throughput time decreased to 46.80 hours during the fiscal year (48.48 hours).

Some of the projects completed during the year include the commissioning of a drive-through container scanner at a cost of ₹42 crore. Projects set to progress in the current fiscal year include the conversion of Berth 9 into a container terminal at a cost of ₹434.17 crore; a 2MW wind farm at a cost of ₹26 crore and a 5MW ground solar power plant at a cost of 16 crore.

Port Based Industries

To promote port-based industries under the Coastal Employment Unit (Tuticorin SPEEDZ), land totaling 54 acres has been progressively allocated for industries such as cooking oil, refining, food processing and warehousing. In addition, the Port Authority has allocated 12.79 acres of land, including water area, for the construction of a bulk cement terminal, the press release said.

Future projects to be undertaken include the development of an outer harbor with two container terminals (continuous quay length of 1,000 meters each) with a draft of 16 meters at a cost of ₹7055.95 crores.

TK Ramachandran, IAS, Chairman of the VO Chidambaranar Port Authority, said the port will handle an all-time record throughput in this current fiscal year given the positive trend driven by the economic recovery.

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