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Ennore Port earns Rs. 41.46 crores profit

The Ennore Port in Tamil Nadu has reported a post-tax profit of Rs 41.46 crore during the financial year ended March 31, 2009 and has proposed a dividend of 15 per cent.

The dividend cash flow, including dividend tax of Rs 1.06 crore, will be Rs 7.28 crore. Of this, the Government of India gets Rs 4.15 crore and the Chennai Port Trust Rs 2.07 crore.

Ennore Port Ltd (EPL) Chairman and Managing Director S Velumani handed over a maiden dividend cheque for Rs 4.15 crore to Union Minister of Shipping G K Vasan here today.

An official press release said Ennore Port, which has attracted investment of Rs 1200 crore on various terminals and harbour crafts from private entrepreneurs, had maintained a very low operating ratio of 25.80 per cent during 2008-09.

It said construction of a Car Export Terminal is in progress at the port in pursuance of the memorandum of understanding (MoU) with Nissan Motors. The terminal will enable Nissan to export 1,80,000 cars per year.

Exports of cars from the terminal are expected to commence by August next year. The project will cost Rs 110 crore and the facilities include a berth, dredging of basin to 12 metres and a parking yard of 1,75,000 square metres.

According to the release, a modern coal terminal and an iron ore terminal were being developed at a total investment of Rs 880 crore.

It said Ennore Port would be able to handle eight million tonnes of coal and 12 million tonnes of iron ore when these two projects were completed by August, 2010.

The release said a Detailed Project Report (DPR) for construction of a third coal berth is being prepared so as to enable EPL to handle 35 million tonnes of coal needed by the Tamil Nadu Electricity Board (TNEB) by 2013-14. The project is expected to cost Rs.100 crore.

The Marine Liquid Terminal constructed at a cost of Rs.250 crores is already operational since January this year, the release said.

It said rail connectivity project works to link coal and iron ore stackyards with Athipattu station on the Chennai – Vijayawada mainline are under the implementation at a cost of Rs.51.60 crores.

NNN

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