Kochi: Clarity sought over move to deepen draft depth at port

2022-11-29 15:37:54 Trade Body / Associations News

Welcoming the decision of the Union government to invest Rs 380 crore to deepen the draft depth at the Cochin Port to 16m, the Cochin Chamber of Commerce and Industry has sought clarity over the other factors related to the decision.

In a statement issued on Saturday, 26 Nov the chamber said that the central government needs to have a relook at the Light House Dues (LHD), which are the charges levied on ships for the maintenance of lighthouses and other aids to navigation.

“As per the announcement, the central government is meeting only 50% of the cost and the balance is to be met by the Cochin Port Authority. The financial position of the Cochin Port Authority does not appear to be good enough to meet the 50% cost of investment. Hence, the central government should consider meeting the full cost of deepening the draft depth,” the statement said.

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