Cochin Port Union Demands Management to Increase Revenue from Assets

The Cochin Port Employees’ Organisation (CPEO) has called on the Cochin Port Authority (CPA) to take immediate action to maximize revenue from projects on port land at Puthuvype and Vallarpadam port-based special economic zone. The CPEO alleged that the port management had not made efforts to generate revenue from key projects like Petronet LNG regasification terminal and the International Container Transhipment Terminal at Vallarpadam, both representing a total investment of around ₹10,000 crore. These projects are established on leased land with nominal rent and must yield maximum revenue for the port authority.

Despite operating for 13 years, the International Container Transhipment Terminal at Vallarpadam Island is not utilizing the port’s infrastructure to its full potential, according to CPEO. The union stated that the revenue shared by the terminal operator is insufficient to cover maintenance dredging costs, as revealed by Cochin Port’s accounts. The union also expressed concerns about the underperformance of the Petronet LNG terminal and the multi-user liquid terminal established by Indian Oil Corporation at Puthuvype, emphasizing the need for increased revenue generation.

The CPEO plans to formulate an action plan to revive port activities, aiming to ensure that projects like the Petronet LNG terminal and the multi-user liquid terminal fulfill their revenue potential. The union criticized plans to convert Willingdon Island into a tourism hub, stating that this would only provide seasonal activity and limited job opportunities, without significantly benefiting the port’s revenue. CD Nandakumar, general secretary of CPEO, highlighted the need for effective strategies to maximize revenue from port assets and projects.

Source .