Chennai, Kamarajar Ports eye 100 million MT cargo in FY 2023-24

The Chennai Port Trust and its subsidiary Kamarajar Port Ltd have set a target of crossing 100 million metric tonne of cargo in the current financial year, a top official said here on Monday.

Both the ports handled 92.46 million metric tonne of cargo in the last financial year, Chairman and Managing Director Sunil Paliwal said.

On the performance of the Ports, he said Chennai Port Trust handled 48.95 million metric tonne of cargo, which was up by 0.8 per cent from 48.56 million metric tonne handled last year.

Kamarajar Port handled 43.51 million metric tonne of cargo in 2022-23 up by 12.31 per cent from 38.74 million metric tonne recorded the previous year.

"Container is the major cargo handled by Chennai Port Trust. It is about 58 per cent. While liquid bulk and dry bulk cargo also witnessed a good growth this year," he told reporters.

To a query, the Chairman said exports of automobiles grew last year at Chennai Port Trust following the signing of agreements with several automajors including Toyota.

The exports by these companies from Chennai Port had offset the loss incurred due to the exit of US car maker Ford from Chennai last year, he said.

"Export of cars at Chennai Port Trust rose by 36 per cent to 2,31,412 units in FY2022-23 while it was 1,70,482 units in FY 2021-22."

Kamarajar Port exported 1,48,307 units in 2022-23 as compared to 1,35,702 in 2021-22.

"Together both the Ports handled about 3,79,719 units of cars last year," he added.

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In a boost to cruise tourism, Paliwal said Switzerland based MSC Cruises, part of the MSC Group, was in discussion with the Chennai Port Trust for offering cruise tourism from the coastal town.

"They are planning to have Mumbai as a hub for cruise tourism in the western coast and Chennai as a hub in the eastern coast. From 2024 onwards, they (MSC Cruises) may commence operations from Chennai Port," he said.

Chennai Port Trust in 2022-23 handled 37 Cruise ship calls carrying 85,000 passengers.

Regarding the financial performance, the official said Chennai Port reported its highest net surplus (profit before tax) in the last 13 years at Rs 150.26 crore in FY2022-23.

"This is a 33 per cent year-on-year increase in net surplus over last financial year 2021-22," he said.

The highest net surplus achieved at Chennai Port would enable them to invest in developing the existing infrastructure projects.

As regards the financial performance of Kamarajar Port, Paliwal said the port surpassed Rs 1,000 crore mark as income to reach Rs 1,002.45 crore.

"This is an increase of 17.82 per cent from Rs 850.84 crore registered in 2021-22."

Kamarajar Port registered a net surplus of Rs 669.93 crore in FY2022-23 which was an increase of 24.39 per cent from the earlier Rs 538.59 crore registered last year, he said.

Responding to a question on ongoing projects by Kamarajar Port, he said the cargo handling capacity at the port is being expanded with construction of RoRo cum GCB-II (3 metric tonne per annum) at an investment of Rs 161.09 crore.

Kamarajar Port is undertaking a capital dredging Phase-VI project to provide 18 metre draft to handle bigger container vessels at an estimated cost of Rs 549 crore, he added.

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