Kolkata Port profits up 29 percent, cargo handling down
June 12th, 2012 - 8:56 pm ICT by IANSKolkata, June 12 (IANS) The Kolkata Port Trust (KoPT) Tuesday declared its net profit for the last fiscal at Rs.90 crore — a jump of 28.57 percent over the Rs.70 crore profit registered the previous year.
The port, however, handled less cargo in 2011-12 compared to 2010-11.
KoPT Chairman Manish Jain told media persons here that the port handled 43.245 million tonnes (MT) of cargo last fiscal compared to 47.545 MT in the previous fiscal.
“Cargo handling saw a shortfall in the last financial year mainly due to fall in liquid bulk as also in crude oil movement,” Jain said.
“In order to arrest traffic downfall, we are planning several development projects. This will see an investment of Rs.15,000 crore (Rs.150 billion) by the end of the 12th Five Year Plan,” he added
The port is also planning to sell or lease land to cover a part of its pension liabilities of Rs.3,000 crore (Rs.30 billion).
“In order to meet the pension liabilities, we have approached the Shipping Ministry. We have a plan to sell or lease land in seven to eight locations to raise part of the money,” Jain declared.
- Kolkata Port Trust to utilize prime city land - Dec 01, 2011
- One crore sapplings to be planted across Bengal - Jun 05, 2011
- One crore saplings to be planted across Bengal (Lead) - Jun 05, 2011
- KoPT to set up midstream container handling facility - Jun 28, 2010
- Kolkata Port Trust to resolve Salukhali port land issue - Jun 30, 2010
- KoPT plans to reclaim land to set up deeper draught port - Sep 21, 2010
- Kolkata port trust to begin work on container terminal - Jul 08, 2011
- Kolkata to deploy cranes, barges to streamline immersion - Oct 05, 2011
- Shipping Ministry to set up port freight corridor in West Bengal - Jul 06, 2010
- Experts examine damaged vessel on Hooghly river - Nov 24, 2010
- Committee to decide whether Chennai port will handle coal - Apr 12, 2012
- Coal India posts 64 percent rise in net profit - Aug 13, 2011
- Explosive-laden vessel bound for Karachi intercepted (Lead) - Jun 26, 2010
- RFQ for Diamond Harbour container terminal July 22 - Jul 21, 2011
- Britannia planning greenfield projects - Aug 09, 2010
Tags: cargo handling, crore profit, crude oil, development projects, downfall, kopt, manish jain, media persons, money, net profit, pension liabilities, port trust, previous year, profits, rs 90, shipping, shortfall, traffic