PM speeds up action on trans-shipment terminal at Vallarpadam in Kochi

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Prime Minister Manmohan Singh has directed different departments to ensure that procedural issues do not come in the way of India’s first International Container Transshipment Terminal (ICTT) at Vallarpadam in Kochi, Kerala becoming a global cargo hub.

 

Set up at a cost of more than Rs 1600 crores, the Vallarpadam container facility for trans-shipment is the first of its kind in the country. Its commencement in right earnest will reduce the number of days taken to export or import consignments by seven and reduce the transportation cost of each container by $ 300, giving a boost to international Indian trade making it more competitive, an official press release said.

 

Currently Indian importers and exporters use Colombo, Salalah, Singapore and Dubai hubs for shipments, adding to their costs.