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Ennore earns Rs. 41.46 crores

Ennore: The Union Minister of Shipping Thiru G.K.Vasan was presented today at Chennai the maiden dividend of Rs.4.15 crores by Ennore Port. The dividend Cheque was presented to the Minister by Thiru S.Velumani, Chairman cum Managing Director of Ennore Port Ltd (EPL).

The Ennore Port Ltd. has reported a post tax profit of Rs.41.46 crores during the Financial Year ended March 31, 2009 and it proposes to declare dividend at 15% on PAT which comes around Rs.6.22 crores. Dividend Tax is Rs.1.06 Cores. The dividend cash flow including dividend tax is Rs.7.28 Crores, of which Government of India gets Rs.4.15 crores and Chennai Port Trust Rs.2.07 crores.

Ennore Port has been conferred Mini Ratna Category I status by the Government of India based on its impressive performance, which enables it with enhanced functional and financial autonomy. The Port has been successful in attracting an investment of Rs. 1200 crores on various terminals and harbour crafts from private entrepreneurs. It maintained a very low operating ratio at 25.80% during 2008-09.

Construction of the Car Export Terminal at the Port is in progress in pursuance of MOU with Nissan Motors, which would enable Nissan to export 1,80,000 cars per year. Exports are expected to commence by August, 2010. This 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.

A modern Coal Terminal and an Iron Ore Terminal are being developed at a total investment of Rs.880 crores. Ennore Port will be able to handle 8 million tonnes of Non-TNEB coal and 12 million tonnes of iron ore with completion of these two projects by August 2010. Detailed Project Report (DPR) for construction of third coal berth is being prepared so as to enable EPL to handle 35 million tonnes of coal need for TNEB by 2013-14. The Project is expected to cost Rs.100 crores. The Marine Liquid Terminal constructed at a cost of Rs.250 crores is already operational since January 2009.

Rail connectivity project works to link Coal and Iron Ore stackyards with Athipattu Stations on the Chennai – Vijayawada mainline are under the implementation at a cost of Rs.51.60 crores. Phase – II Capital Dredging to create necessary depths to handle Cape Size vessels and main line Container vessels has been approved by the Board of EPL with a proposed of Rs.440 crores.

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