Ennore Port Pays Dividend of Rs. 6.49 Crore to the Government of India
The Minister of Shipping, Shri G.K. Vasan was today presented the 2nd consecutive dividend of Rs.6.49 crores by Ennore Port Ltd. The dividend Cheque was presented to the Minister by Shri S. Velumani, Chairman-cum-Managing Director of Ennore Port Ltd.
During the Financial Year ending 31st March 2010, Ennore Port Ltd. has reported a post tax profit of Rs.48.66 crores and it has declared dividend of 20% on PAT which works out to Rs.9.73 crores. The Dividend Tax will be Rs.1.65 Crores. The dividend cash flow including dividend tax is Rs.11.38 Crores, out of which Government of India gets Rs.6.49 crores and Chennai Port Trust gets Rs.3.24 crores.
Ennore Port is the only Major Port which is paying Dividend to Government as it is a Corporate Port.
Other Highlights:
? Ennore Port is the only Major Port, incorporated as a Company and its commercial operations commenced in June 2001. The first phase of development of Ennore Port from a greenfield situation was made with an investment of about Rs.1000 crores.
? The Ennore Port Ltd is making profit since 2005-06. Having regard to its continuous profit making record, Mini Ratna Category I status has been conferred on Ennore Port by Government of India.
? The operating ratio of Ennore Port is the lowest among the Major Ports, at 30.60% during 2009-10.
? The Port has been successful in attracting an investment of Rs.2600 crores on various terminals and harbor crafts from private entrepreneurs.
? Construction of a Car Export Terminal is in progress in pursuance of the MOU with Nissan Motors. Nissan will export 1,80,000 cars per year. Exports are expected to commence by October, 2010. Project will cost Rs.110 crores and the facilities include a berth, dredging of basin to 12 mtrs, parking yard of 1,75,000 sq. mtrs.
? Most modern Coal Terminal and Iron Ore Terminal are being developed at a total investment of Rs.880 crores. These two projects are scheduled to become operational by 3rd quarter of 2010-2011. Construction works are progressing fast. After commissioning, Ennore Port will be able to handle 8 million tonnes of Non-TNEB coal and 12 million tonnes of iron ore.
? Marine Liquid Terminal constructed at a cost of Rs.250 crores is operational since January 2009.
? Detailed Project Report (DPR) for construction of Third and Fourth coal berths is being prepared so as to enable EPL to handle 35 million tonnes of coal need for TNEB by 2013-14.
? Rail connectivity project works to link Coal and Iron Ore stackyards with Athipattu Stations on the Chennai ? Vijayavada mainline are under implementation at a cost of Rs.80 crores.
? Phase ? II & III Capital Dredging to create necessary depths to handle Cape Size vessels and main line Container vessels respectively have been approved by the Board of EPL, at an estimated cost of Rs.220 Crores each.
? On 13.08.2010, EPL signed the Concession Agreement with M/s. Bay of Bengal Gateway Terminal Pvt. Ltd. for developing a World Class Container Terminal which will be capable of handling 3 Main line vessels simultaneously. The Terminal will be developed at an investment of Rs.1407 Crores. It will have a capacity of 1.5 million TEUs per annum. The Container Terminal at Ennore Port is scheduled to be in operation by February 2014.
? EPL has planned an ambitious Capex programme of Rs.1600 crores during the next five years. The projects include deepening of the Port?s approach channel to 20 metres for handling cape size bulk carriers and Rail / Road connectivities.
? MOU Performance:
Ennore Port has been signing MOU with Ministry of Shipping from the financial year 2006-07.
The MOU score achieved by the company during the last three years are as detailed below :
2007 ? 08 : EXCELLENT
2008 ? 09 : EXCELLENT
2009 ? 10 : EXCELLENT
