Cochin (Kochi) / Ernakulam Projects II

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Newly set up giant gantries at India Gateway Container Terminal, Cochin

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Old Gantries in Action

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Even as worlds' largest port operator, Dubai Ports World have started construction of the greenfield Vallarpadam ICTT hub, Cochin it is upgrading the existing terminal pumping an investment of Rs.1 bn.

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Kochi Gas Task Force update

GAIL-BPCL MOU on City gas projects in Kerala, K'taka next week
Thursday December 22 2005 00:00 IST
UNI

KOCHI: Gas Authority of India Ltd (GAIL) and Bharat Petroleum Corporation Ltd (BPCL) are to sign a MOU next week to set up joint venture companies for implementing the 'city gas projects' in Kerala and Karnataka, GAIL CMD Proshanto Banerjee said on Wednesday.

Talking to reporters after inaugurating an electromagnetic pollution display unit at Marine drive and an Air Pollution Related Diseases Diagnosis (APRDD) centre at the general hospital here, Mr Banerjee said the city gas projects would undertake the supply of Piped Natural Gas (PNG) to domestic, commercial and industrial consumers and Compressed Natural Gas (CNG) and auto LPG to automobiles.

On the proposed 400,000 tpa capacity petrochemical complex in Kochi with lng as feedstock, he said the feasibility report on the Rs 6,200 crore project had been completed and investment approval from the centre was expected by the end of January.

GAIL was engaged in discussions with fact on locating the petrochemical complex on the fact premises here. While refusing to comment on a question about fact expressing reservations about the project, Mr Banerjee said, 揇iscussions are on. But, we do have other options if this does not work out.?br>
In reply to another question, he said although there had been 揻eelers?for equity participation by KRL and others in the petrochemical complex, GAIL was not looking for outside equity in the project.

On the supply of Iranian gas for the Petronet-LNG terminal here, Mr Banerjee said as per certain reports, Iran had reconfirmed supply of gas for the project. However, Petronet was finalising a five million tonne natural gas supply from another source also as a 揊all back measure,?he added.

In connection with the LNG terminal here, GAIL has drawn up plans for transportation of gas by laying a 900 km-long Kochi- Kanjirakode- Mangalore- Bangalore pipeline with an investment of about Rs 2,000 crore.

Gas would also be supplied from this project for the NTPC's Kayamkulam plant through a 110 km sub-sea pipeline to be laid with an investment of Rs 450 crore.

On GAIL's little known telecommunication venture, GAIL-tel, Mr Banerjee said the company was offering its optic fibre network across the length and breadth of the country to mobile phone services and E-medicine and E-governance initiatives.

Earlier, the GAIL CMD, along with K V Thomas, MLA, and Ernakulam district collector a P M Mohammad Hanish, inaugurated the APRDD centre, for which GAIL has donated Rs 20 lakh to the general hospital here.

This was the 12th such centre in the country. GAIL proposed to set up 23 such centres in different cities in the country under its corporate social responsibility initiatives.

He also inaugurated the electromagnetic pollution display unit on the busy marine drive, which would record the levels of toxic gases such as sulphur dioxide, carbon monoxide and nitrogen dioxide in the area.

After the board was commissioned, Mr Banerjee was 揹elighted?to note that none of these toxic gases were recorded in the 損ollution free?Kochi city. However, he admitted that the equipment did not measure suspended particulate matter, a major Air contaminant spewed by vehicles.

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Centre to fund the road, rail links for Vallarpadam ICTT

KOCHI: Work is progressing on schedule on the Vallarpadam International Container Transshipment Terminal (ICTT) and the Centre has in principle agreed to foot the bill of Rs 622 crore for providing rail and road connectivity to the terminal, Cochin Port Trust (CPT) Chairman N. Ramachandran said.

Addressing a press conference here, Ramachandran said that at a recent meeting in New Delhi with the principal secretary to the Prime Minister, it was agreed that the Centre would give the Railway Board Rs 246 crore as budgetary support to provide the rail link to Vallarpadam.

Similarly, the National Highway Authority of India would undertake the Rs 376 crore four-lane highway link to the transshipment terminal, the first in the country, for which Prime Minister Manmohan Singh had laid the foundation stone in February this year. These proposals would now be forwarded for clearance by the cabinet committee on economic affairs (CCEA).

The CPT would spend about Rs 500 crore for deepening the channels to a 14.5 meter draft and providing other basic works, he said. Stating that there was no ground for any apprehensions about the ICTT project, the CPT chairman said that the BOT operator, India Gateways Terminal Private Ltd., owned by Dubai Ports International, had already taken charge of and was operating the Rajiv Gandhi Container Terminal here, for which it had got a license for eight-and-a-half-years. Its license for the ICTT would be for 30 years.

Construction for the Vallarpadam ICTT is scheduled to begin, after work commences on the rail and road linkages. Briefing about the progress of the other major projects undertaken by the CPT, Mr Ramachandran said Expression of Interest had been invited by January 31, 2006 for an International Ship Repair Complex. The proposal for an International Bunkering Terminal was also being processed, he said.

On the International Cruise Terminal, Ramachandran said the CPT would have to re-work its proposal for the Rs 55 crore project following some changes made by the union tourism ministry in the plan. Discussions were also on with the Kerala Government for the Marina Project. The port trust had handed over 32 hectares of land for the Petronet LNG terminal. Work on this is scheduled to start in 2005-06, and the five MMPTA re-gassification terminal is expected to be commissioned in 2009.

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(Ack: www.ernakulam.com)

Mainline vessels have sought Cochin on large scale after IGTL
take over. With Vallarpadam on target here is the numero uno
of tomorrow's South Asian ports.

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Cochin Chamber hails budget allocation for road, rail links to Vallarpadam
Our Bureau
Kochi , Dec. 25 - The Hindu

THE Cochin Chamber of Commerce and Industry has welcomed the decision by the Union Government to provide budgetary support for constructing the road and railway link to the proposed site of the International Container Transhipment Terminal on Vallarpadam Island.

Expressing satisfaction on the move, the Chamber felt that the Union Government had taken note of the project as of national importance taking into consideration its strategic importance.

It also appreciated the efforts being made by the State Chief Minister and the Chairman of the Cochin Port Trust in persuading the Union Government to provide sufficient support for the two crucial elements of the ICTT project.

As per the plans finalised by the port, various developmental projects to be taken up by the port will be completed between two-and-a-half years to four years.

The new ventures, including the ICTT and the ship repair facility, are expected to bring in a total investment of Rs 7,403 crore.

Of this, private investments will be to the tune of Rs 6,858 crore.

Besides, the Port is also looking at common infrastructure facilities like capital dredging that would be needed before the ICTT becomes a reality.

An investment of Rs 8,487 crore is needed for the purpose.

Building of the rail and rail link to ICTT project site are included in this.

The environmental clearance for the ICTT is expected before September next year while work on the transhipment terminal is expected to commence by April 2007.

According to the current schedule, the project will be commissioned by April 2009.

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Kochi terminal: Petronet to finalise deal with Australian co by Jan
G.K. Nair

Kochi , Dec. 25

THE board of directors of Petronet LNG Ltd (PLL), which met at Kumarakom in Kerala on Saturday, has decided to finalise a deal next month with an Australian company, Gorgan Projects, for supply of LNG to its proposed 2.5-million-tonne per annum terminal here to be commissioned by 2009.

The Australian company would arrange for the supply of LNG through a consortium of which the stakeholders are Chevron, Exxon Mobil and Shell.

The discussions with Gorgan projects are in an advanced stage, Mr Sham Sundar, Director (Technical), PLL, told Business Line. He said the price and the total quantity of LNG to be bought would be finalised in the final round of discussions in January.

Though the terminal would have an initial capacity of 2.5 mtpa it would be enhanced later to 5 mtpa depending on the demand for the gas. Taking this potential into consideration, the storage tank to be built here will have a capacity to 5 mtpa, he said.

He said for transportation of LNG from Australia "we will order one more ship from the shipping company, which offers us the better price". However, a decision on this will be taken after the deal with the LNG suppliers is finalised.

The lowest bidder for carrying LNG from Ras Laffan Gas, Qatar to Dahej terminal is the consortium of SCI, along with its partners Mitsui OSK Lines, NYK Lines and K Line, he said. The other is the consortium of Great Eastern Shipping Company with Teekay Association. These two consortia had submitted fresh bids as asked for by PLL, following the government's decision to allow chartering of foreign flag vessels for import of LNG.

According to Mr Sham Sundar, EPC contract for the terminal here would be awarded before March 2006. Issues relating to the formal handing over of 35 hectares of land at Puthuvype, where the terminal is to be set up, have been sorted out, he said.

The PLL was formed by the Government of India to import LNG and set up LNG Terminals in the country. It is a joint venture company promoted by GAIL (India) Ltd, Oil and Natural Gas Corporation Ltd, Indian Oil Corporation Ltd and Bharat Petroleum Corporation Ltd , with an authorised capital of Rs 1,200 crore.

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Warehousing zone in Kochi


Source ::: The Peninsula

Kochi: The Federal Government has given the nod to the Cochin Port Trust (CPT) for setting up a 'free trade warehousing zone' in the port-based Cochin Special Economic Zone (CSEZ). CPT sources said this was decided at a recent meeting called by T K A Nair, the Principal Secretary to the Prime Minister, to review the progress of projects coming up at CSEZ. Among those who attended the meeting in New Delhi were Kerala State Industries Development Corporation managing director P H Kurian, Ernakulam district collector A P M Mohammed Hanish, CPT chairman N Ramachandran and Cochin SEZ development commissioner C J Mathew. The CPT has been entrusted with preparing the feasibility report and going for the bid in private-public participation mode. It was also decided to have as many manufacturing industries as possible at SEZ with a view to generating employment opportunities, the sources said. The port will also invite bids to set up an LNG-based power plant and desalination plant within the SEZ.

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CIAL registers high growth
The Hindu

Increase in flight services in the domestic and international sector

NEDUMBASSERY: The Cochin International Airport Limited (CIAL) is set to scale new heights registering all round progress besides preparing to embark on a multi-crore investment programme.

Having registered a turnover of Rs.100.26 crores in the preceding financial year, the airport company has continued with its successful ways during the current fiscal and is well on the path to post higher growth.

Ranked third in the world in terms of balance between investment and profit, Cochin International Airport Ltd. is regarded as the most successful investment venture of the State.

The airport has registered progressive growth in net profit from Rs. 21.11 crores in 2003-04 to Rs. 28.79 in 2004-05. The airport company has also distributed a dividend of 10 per cent to its shareholders for the fiscal 2004-'05 compared to 8 per cent in the preceding fiscal.

Ranked fourth in the country in terms of international flight operations, the CIAL witnessed considerable increase in the number of flight services, both in the international and domestic sectors. Two international carriers, including Mahan Air, a Teheran-based airline, and Air-India Express, the no-frills subsidiary of the national carrier Air-India, launched its operations from the Cochin International Airport this year.

Nine foreign carriers now operate services from Kochi — Oman Air, Gulf Air, Saudi Arabian Airlines, Kuwait Airways, Srilankan Airlines, Emirates, Qatar Airways, Silk Air.

Domestic sector services from Kochi were augmented with the arrival of three carriers; Kingfisher Airlines; promoted by the UB Group, Air Deccan, the first domestic budget airline of the country; and Paramount Airways, promoted by a Madurai-based industrial house. Domestic passenger movement registered impressive growth.

The airport handles 104 domestic services and 114 international services in a week. The international passenger movement increased from 8,61,004 in 2003-04 to 10,06,158 in 2004-05, a growth of 16.86 per cent, whereas domestic passenger movement posted a growth of 25.12 per cent from 4,71,597 to 5,90,054 for the same period.

Cargo movement through the airport has also shown an upward trend with imports increasing from 3,841.82 tonnes in 2003-04 to 5,181.60 tonnes in 2004-05, a growth of 34.87 per cent. Exports increased from 9,484 tonnes to 13,092.70 tonnes, a growth of 38.05 per cent.

The airport received a facelift this year with the opening of the new arrival block of the international terminal, which is capable of handling 1,200 passengers at a time. The three-storied fully air-conditioned building with a total built up area of 1.78-lakh sq.ft, was constructed at a cost of Rs. 19 crores.

The new block houses a two-storied duty free shop with built up space of 14,000 sq.ft. and is the biggest duty free shop of the country.

With the completion of the new departure block, which is expected to be completed next year, the total built up area of the international terminal would go up to 4.80 lakh sq.ft

Another achievement was the construction of a new apron capable of handling A-380, the biggest passenger aircraft in the world, at a cost of Rs. 2.3 crores. With this, the Cochin International Airport became the first in the country to fulfil the requirements for handling the `big bird', which is set to take to the skies by the end of 2006 or early 2007.

The airport company has drawn up extensive plans estimated to cost Rs.3,500 crores for commercially utilising the 179 hectares of land at its disposal. This includes an aircraft maintenance hangar, which is expected to become operational within a year. Other projects envisaged include free zone logistic centre, 18-hole golf course, convention centre with seating capacity for 4,000, star hotels, exhibition halls, shopping complex, gems & jewellery park, family entertainment complex, including amusement park and go-carting track, etc.

A centre for perishable cargo planned by the airport company in association with the APEDA (Agricultural and Processed Food Products Export Development Authority), is expected to be completed by April next. The Memorandum of Understanding for the project was signed in May 2004. With the completion of the centre, the Cochin International Airport would become the second largest exporting centre of perishable cargo in the country.

The airport company, however, is set to a face a challenge as its last Director Board meeting chaired by Chief Minister, Oommen Chandy, has decided to stop collecting user's fees from international passengers travelling from the airport from next year. The decision was in accordance with the longstanding demand of Keralites in Gulf.

User's fee collected at the rate of Rs. 500 per passenger made an annual contribution of Rs. 2 crores a month towards income. Following the board meeting, V. J. Kurian, Managing Director of CIAL, had made clear that the company would intensify the efforts to take up ground handling to cut short the loss.

Meanwhile, the Government has decided to go ahead with the airline project, Air Kerala, in the joint sector in which CIAL would hold 26 per cent stake.

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Kochi set to scale greater heights in investment
The Hindu

R.Ramabhadran Pillai

Manpower plays key role in attracting investors


KOCHI: Kochi had come second among the `super nine ITES cities' in a study undertaken by NASSCOM. The fact that the ranking relates to the comparison of `super nine ITES cities' assumes significance as Kochi has outclassed several major cities.

The study on the IT framework pertains to the key sectors of telecom, power, real estate, manpower and policy initiatives. Hyderabad has taken the number one slot in the overall ranking. The data has been brought to focus by the Industrial Department of the Kerala Government, in a bid to highlight various positive factors of Kerala in general and Kochi in particular, with a view to attracting investment.

Kochi has attained the top slot in terms of manpower as well as real estate. The city is second in terms of telecom facilities and policy initiatives while it is rated sixth in power. The cities that fall below Kochi in ranking are Chennai, Kolkata, Ahmedabad, Bangalore, Mumbai, Delhi and Pune.

One of the advantages of Kochi in the telecom sector is that it is the point of landing for the SEA-ME-WE-3 and SAFE submarine cable landings. The city derives another advantage from the fact that the VSNL's primary international gateway in India is at Kochi.

The Infopark, situated midway between the seaport-airport highway, has been attracting investments. The Kinfra Export Promotion Industrial Park in Kochi provides basic infrastructure for many an industry like garments, chemicals, food and engineering. The biotechnology park coming up at Kalamasserry is another attraction for investors. The park boasts of a technology incubation centre with pilot plant facilities. In addition to basic infrastructure, it provides specific facilities such as biotech lab, gene bank, computer lab and R&D facilities.

The port-based special economic zone, a special enclave at Puthuvype, is expected to attract major investment. The project has been given the green signal by the Union Government. The project will offer opportunities in various associated ventures such as international ship repair complex, gas-based power project and desalination plant. A free trade warehousing zone has already been sanctioned as part of the port-based activity.

Yet another attractive feature of Kochi being projected by the Industries Department is the aviation sector and the international airport in Kochi. More than a dozen international airlines are already operating flights from the Nedumbassery airport. Apart from the aviation sector, there is scope for water transport. Kerala's long coastline offers tremendous scope for investment in high-end luxury liners connecting the tourism spots and neighbouring countries like Maldives and Sri Lanka.

As the investment scenario widens, new projects are being planned.

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Kakkanad - In tune with the future
The Hindu (Dec 29, 2005)

It's true that the realtors in Kochi are basking in glory these days and Kakkanad, once considered as a doomed place, has become the apple of their eyes too. Having become a much sought after hub, both from commercial and residential point of view, for more reasons than one, Kakkanad is being viewed as Kochi's future destination.

The growth and development of Kakkanad is bound to tickle the curiosity even the most laid back historian. Even a few decades back, this hilly terrain painted a barren picture and was sparsely populated with literally no means of transport. Land was dirt cheap. Paradoxically, today Kakkanad is one such destination in Kochi where the land prices have shot up prohibitively high.

The earliest settlers of this region still recapitulate the formative days of Kakkanad when it was largely a nondescript village. Such was the state of affairs in Kakkanad even in the early eighties that people ranked Kakkanad as one of the most undesirable places around. But today it is considered as a matter of prestige to own a property or a plot of land in and around Kakkanad.

It was with the shifting of the headquarters of city administration to Kakkanad that changed the fortunes of this `remote' place. And with the Civil Station becoming a reality, the maiden corner stone of sustained development of Kakkanad was laid. However, it was the Special Economic Processing Zone (SEPZ) that finally brought Kakkanad its long awaited dignity.

Interestingly, today, Kakkanad is being considered as a place that is in perfect tune with the future. The fact that several MNCs are eyeing Kakkanad to kick off their operations further substantiates this fact. Things have come to such a point that it has become an order of the day for every Kochi based builder to own a property in Kakkanad.

The early nineties witnessed a splurge in the construction of apartments and the trend of villas just followed suit. The completion of Seaport-Airport Road and the proximity to National Highway 47 also have given an impetus to the growth and development of Kakkanad. Lesser foundation costs, availability of quality ground water etc are some of the other factors that add to the value of this place.

And a recent decision to shift all central government offices to Kakkanad from Ernakulam will further enhance the face value of this hilly area. And according to sources 10 acres have already been acquired by the central government for the purpose. Besides everything, easy accessibility to anywhere in the city is an assurance that only Kakkanad can afford to extend.

It is true that the construction spree has escalated the land prices manifold in recent years. And Kochi based builders are also of the view that, apart from the capital appreciation, the rental value in Kochi has also gone up drastically in Kakkanad. Builders feel that this is one important reason why the people have grabbing dwellings in and around Kakkanad, in a big way.

"The prospects of Kakkanad is extremely good and we have two projects in Kakkanad of which half of the villa project has already been sold out", reveals Rekha of BCG Estates. The infrastructure, especially the roads of this place are very well planned and the new generation always prefer a place in its totality, she adds. Of BCGs two projects, one is a villa project called Misty Meadows and another to be launched soon at Chembumukku en route to Kakkanad is christened Vertical Heights. It's true that more and more builders are coming up with new properties in Kakkanad, to tap the scope to its fullest.

These days more and more people are buying apartments and villas in Kakkanad with an aim of settling down and not just as yet another mode of lucrative investment. This is because most of them feel that Kakkanad boasts of all the facilities of a cosmopolitan life and perfectly suits their lifestyle. Kakkanad's close proximity to all prominent destinations in Kochi is also one important reason for its rising face value.

And one of the very recent developments in the real estate scene is that people are buying properties in Kakkanad keeping an eye on the regular income that it will generate from rentals in near future. The emerging IT boom has put Kakkanad in the limelight and many builders have already announced studio apartments to rope in the huge number of single professionals who are likely to touch down through IT majors and BPO companies.

The easy accessibility of national highways, international airport, seaport, several shopping malls and other leisure points have made Kakkanad the favourite of one and all. Kakkanad offers homes of all kind to suit any budget and taste. Homes, both apartments and villas, are having ready takers and several of the ongoing and upcoming projects have already been sold out.

With the real estate market once again looking up in a big way, Kakkanad is undoubtedly grabbing all the attention. In fact, it wouldn't be exaggeration to state that this hilly region has taken the centre stage of all real estate activities happening in the commercial capital the state.

Realizing that Kakkanad is going to script the future of Kochi, most of the builders are heading towards Kakkanad with much enthusiasm. And believe it or not, it is already enjoying the status of hot destination not only in Kochi but also in the whole of the state.

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A good year for both buyers and builders
The Hindu (Property Plus)

As 2005 comes to a close, RENU RAMANATH finds out how the real estate sector fared in terms
of shoring up projects as well as keeping the buyers happy.

The year 2005 was exceptional in the history of Kerala's real estate, especially for the emerging metropolis of Kochi. The last 12 months saw an unprecedented activity in the construction sector. Land value escalated as never before. Apartment prices shot through the air and even rents went up.

"Really, 2005 was the best year for the real estate and building sector," says Venugopal, the immediate-past chairman of Kerala Builder's Forum (KBF), the apex body of the builders in the State. "Last year was good, both for the builders as well as for the buyers. Even the buyers were happy with the prices," he points out.

The KBF organised three property shows in 2005, with one of them being held in Dubai. The India Property Show in Dubai did roaring business, as well as the one held in Kochi in June. The HDFC, which sponsored the Dubai Show, did a business of over Rs.100 crores at the show.

Land value

Almost all areas in and around Kochi witnessed unprecedented escalations of land values in 2005. The largest escalation was seen at Kakkanad, Edappally and Cheranelloor. As the main hub of the city, which includes M.G. Road, Chittoor Road, Marine Drive and the connecting roads and lanes, was experiencing saturation in terms of real estate activity and development, the focus shifted to the suburbs in 2005. The city started growing eastward.

At Kakkanad, land value just doubled up over a short period of time. The prices which stood at around Rs.70,000 a cent for plots between Edappally and Chembumukku in 2004, shot up to Rs.1.5 lakhs within no time.

The eastward growth of the city resulted in the unprecedented development activity of the NH Bypass between Edappally and Vytilla Junction and even beyond that. In this segment, one cent of land costs around Rs.7 lakhs. At Kadavanthra, it is Rs.2 lakhs to Rs.4 lakhs a cent, while Thrikkakara has a price of Rs.50,000 to Rs.1.5 lakhs. At Tripunithura, the land value reached Rs.1 lakhs to Rs.2 lakhs a cent. As 2005 draws to a close, one cannot help wondering whether all this is for real. Will it stay or will the bubble burst, much like what happened after the 1996 boom of real estate which nose-dived too soon?

"No," says Mathen Chakola, present chairman of the KBF. "This time, the boom is here to stay," he points out. "This time, it is genuine development taking place." He points out how back in 1996 the boom was created as the NRIs chose real estate as an alternative avenue of investment as interest rates fell. At that time, no real construction activity was taking place. People were just buying up land. The moment the interest rates came up, they pulled out of the land and put the money back in the banks.

Mr. Chakola points out that on the contrary the present boom in Kochi's real estate is directly linked to the multitude of development activities taking place in and around the city. "Many large-scale projects are in the offing in Kochi." The growth of the IT sector is only one among these.

IT-related activities are providing a direct boost to the real estate sector as the IT firms are bringing in more and more people into the city. IT needs housing. All the major software giants are now setting up shop in Kochi. And they all need space to house their people.

Major IT firms such as US Software, IBS, SunTec, Gemini, NeST, Ernst and Young, Tata

Consultancy Services, Infosys, Wipro, ACS Inc. and Allianz Cornhill are only some of the firms slowly entering the business scene of Kochi.

The Muthoot Group's `intelligent building' is coming up at Kaloor. The Leela Group is also stepping into the city. Zigma Software, which started out with six people, has now expanded into a major firm. They are finding it a problem to accommodate their staff. Wipro has already bought real estate in Kochi. They are building a 6 lakhs sq. feet office, which might employ 6000 people. The accommodation for all these 6,000 people has to be arranged.

Another interesting happening in Kerala's real estate scene is the entry of the builders and real estate developers from out of the State. Many housing groups and builders even from Dubai are buying up properties in Kerala. A Dubai-based housing firm has acquired property at Desam, near Aluva. And, the Dewan Group has acquired the property of HMT at Kalamassery.

"The IT comes with residential projects," says Mr. Chakola. The firms want comfortable accommodation for their staff, that too as near to the company as possible.

Enter MIGs

Another interesting trend during 2005 was the entry of the middle-income groups into the apartment sector. "Earlier, there was an impression that apartments were very expensive and only very rich people would venture into the apartment segment. But, it has changed now. Apartments are no longer restricted to an affluent crowd. For example, during our Kochi Expo, most of the enquiries came from middle-income groups," points out Chakola.

The reason, he says is that for the middle-income groups who want to live near their working places and educational institutions, a flat has become the only viable option. "How can you buy land and build a house for a budget of Rs.8 lakhs bang in the middle of the city," he asks.

So, the middle-the income groups also are flocking to the apartment blocks springing up close to the city centres. During the Kochi Expo held in December, the majority of the buyers were from the local market, points out Mr. Chakola.

Similarly, the rentals have also gone up in the city like anything in 2005. Apartments that used to fetch a rent of Rs.5,000 now commands about Rs.9,000. For slightly larger apartments in prime areas such as the Marine Drive, even Rs.14,000 has become accepted.

It was indeed an unprecedented vigorous year for the building sector. What marks this growth from the earlier booms is that this time, it is based on need, just to meet the burgeoning demands of a changing city.

According to some estimates, about 30 major hotel projects and 50 apartment projects are in various stages of development here.

And the graph seems to be moving on an upward swing.

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2005: Jackpot year for Queen of Arabian Sea

Source; Malayala Manorama.

Kochi: After several decades of neglect, 2005 proved a bountiful year for Kochi, the commercial capital of Kerala, with investments worth Rs 15,000 crore either being pumped in or in the pipeline that aim at redrawing the industrial map of the state.

The Vallarpadam International Container Transshipment Terminal (ICTT), LNG-Petronet terminal, petrochemical complex, Smart City project by Dubai Internet City and metro rail have been the big gains of 2005, which proved a watershed year for the city.

With the big time investments, the city is set to emerge as the logistics hub besides being a hot tourist destination in the country.

Ending the long wait, Prime Minister Manmohan Singh laid the foundation stone for the Rs 2,118 crore Vallarpadam ICTT in February, promising Rs 20,000 crore investments for the state.

The Dubai Ports International, which bagged the build-operate-transfer project, is already on track after taking over the existing Rajiv Gandhi Terminal of the Cochin Port.

Besides saving at least Rs 1,500 crore directly every year for the country, the ambitious ICTT project would roll up direct and indirect opportunities to Kerala, from the tourism to information technology and agri-exports sectors, according to the experts.

The Centre has already cleared Rs 622 crore for laying the necessary infrastructure facilities for rail and road connectivity with the ICCT project.

According to Cochin Port Trust sources, the Centre would give the Railway Board Rs 246 crore as budgetary support to provide the rail link to Vallarpadam. Similarly, the National Highways Authority of India would undertake the Rs 376 crore four-lane highway link to the transshipment terminal, the first in the country.

The CPT would spend about Rs 500 crore for deepening the channels and providing other basic works. India Gateways Terminal Pvt Ltd, owned by DPI, has already taken charge of and was operating the Rajiv Gandhi Container Terminal here, for which it had got a licence for eight-and-a-half-years. Its licence for the ICTT would be for 30 years. Construction for the Vallarpadam ICTT is scheduled to begin in April 2007, after work commences on the rail and road linkages.

Expressions of Interest (EoIs) would be invited by January 31, 2006 for an International Ship Repair Complex. The proposal for an International Bunkering Terminal was also being processed.

The CPT was reworking the proposal of the Rs 55 crore International Cruise Terminal, in line with the changes suggested by the Union Tourism Ministry.

The port trust has handed over 32 hectares of land for the Petronet LNG terminal. Work on this is scheduled to start next year, and the five MMPTA re-gassification terminal is expected to be commissioned in 2009. As offshoots of the ICCT project, six other maritime related projects like the Rs 2,300-crore LNG terminal, the Rs 1,510-crore Port Based Special Economic Zone, the Rs 315-crore International Ship Repair Complex and the Rs 720-crore SBM for Kochi Refineries to handle mother vessels, besides a Rs 55 crore international cruise terminal are set to come up here in a short span.

Gas Authority of India Ltd (GAIL) will invest Rs 6,210 crore in building the petrochemical complex at Ambalamugal near here.

The project would be completed in 48 months and the public sector company is already in talks with two foreign collaborators.

Besides, GAIL has plans for piped gas distribution and laying of undersea pipelines to different destinations from the city.

The Rs 2,300-crore Petronet-LNG terminal at Puthuvypeen is waiting for the Prime Minister to lay the foundation stone, slated early next year.

Beating the rival neighbouring states, Kerala has already signed a memorandum of understanding with the Dubai Internet City for the Rs 1,500 crore Smart City project at Kakkanad near here, to make up for its losses in the information technology sector despite the huge skilled manpower. The agreement is expected to be signed earlier next year as both the partners are reportedly working on the final draft.

Recently, the State Government also cleared the much-hyped Rs 2,236-crore Metro Rail project for the city and the Delhi Metro Rail Corporation would be the nodal agency for the same, on a BOT basis.

According to State Industries Minister V K Ibrahim Kunhu, the state has received altogether investment commitments for Rs 40,000 crore and most of them would be in and around this port city.

Another SEZ would be set up at Kalamasserry and the incubation centre of the Biotech park at Kalamasserry are some of the project in the pipeline.

The real estate prices have already shot up with major players in the construction sector looking for a slice of the pie in the impending boom. A number of Indian players in all sectors have already landed in the town with plenty of projects.

Proving last year was a turning point, the cascading effect of this large volume of investment is expected to spearhead the economy and redefine the industrial aspirations of the State.

[kronik]

http://www.skyscrapercity.com/showthread.php?t=181265

Please read the guidelines to quote news stories. Simply, provide a link.
also, please try to keep it down to the main points.

[nik]

NUALS to be dedicated to nation on Jan 7
(Manoramaonline)

Kochi: National University of Advanced Legal Studies (NUALS), a 'Centre of Excellence' providing 'quality legal education' would be dedicated to the nation here on January 7.


Unlike the conventional schools of law, the new varsity proposes to have an inter-disciplinary approach towards the subject in the fast-emerging global situation, P G Thampi, Chairman, Kerala Bar Council, told mediapersons here on Wednesday. The curriculum would be streamlined on a three-tier basis to enhance professional expertise, academic excellence and corporate legal skills, he said.

NUALS would cover the 'new generation laws' dealing with different spheres like energy, space, internet, natural resources management, bio-technology and e-governance, he said adding it would also encourage quality research in these fields.

The state government has allocated 10 acres of land at Kalamassery near here, where the construction work would begin shortly, he said. Distinguished personalities from the legislature, executive and judiciary along with academicians would constitute three bodies of the University Management - General Council, Executive Council and the Academic Council, he said.

Admission to the university would be based on the performance in an All India Entrance Examination, he said adding the University would admit only 55 students in each batch to the integrated five-year B.A.LL.B (Hons) course to give better individual attention, even as it has been allowed to admit 80.

[bloodmoon]

Originally Posted by Dewan

2005: Jackpot year for Queen of Arabian Sea

Source; Malayala Manorama.

Kochi: After several decades of neglect, 2005 proved a bountiful year for Kochi, the commercial capital of Kerala, with investments worth Rs 15,000 crore either being pumped in or in the pipeline that aim at redrawing the industrial map of the state.

Out of these, four projects can be considered as mega projects, such as International container terminal, LNG terminal, Kochi metro railway, and Smart city.They will surely make Kochi a hot spot....

[nik]

Originally Posted by bloodmoon

Out of these, four projects can be considered as mega projects, such as International container terminal, LNG terminal, Kochi metro railway, and Smart city.They will surely make Kochi a hot spot....

Why four ? GAIL's Rs.7000 cr gas cracker complex, KRL expansion Rs.2500 cr, CIAL's expansion worth Rs 3500 cr.

Many more are in offing with FACT planning to invest heavily in developing infrastructure including an IT park on their Ambalamugal campus. This will entail another Rs.1500 cr investment.

Two other core industry projects in offing are revival of Rayons with about Rs.500 cr and expansion of Binani Zinc plant worth another 500 cr.

Another major trigger to industries in Kochi is the ongoing Air Defence Ship project worth Rs.3500 cr. at Cochin Shipyard

Of course the second shipyard worth Rs.2200 cr and the commercial & tourism projects by AlSaihati spending $350 mn (Rs.1500 cr) is still outside this count.
What's special about 2005 is just that govts decided it is enough with delays and gave clearances quickly.

[nik]

Navy commissions its first UAV
NEW DELHI, JAN 6(PTI)

In a major move to boost its maritime reconissance capability hit by depletion of its spy aircraft strength, Indian Navy today commissioned its first Unmanned Aerial Reconaissance(UAV) Squadron at its Southern Naval base in Kochi, joining a select band of navies the world over equipped this facility.

The Navy's new INAS 342 Squadron was commissioned by the Naval Chief Admiral Arun Prakash in the presence of top Naval Commanders.

The Naval UAV squadron comprises six Israel-made medium altitude Heron and high-altitude Searcher MK II UAV's, which is likely sharpen the aerial eye coverage of neighbouring oceans.

"The induction of the UAV platforms will add to the Navy's warfare capability as these would serve as force multipliers in support of fleet operations", a Naval spokesmand said.

The Navy's Maritime Aerial reconissionace capacity had been depleted recently by the crash of its Russian acquired IL-38 aircraft and despatching the longer range TU142 for upgradation to Russia.

The Navy is also in the process of finalising arragements with the US Naval authoities for acquiring on lease some Lockheed-Martin P3C Orion aircraft which may join the force by end of the next month.

[bloodmoon]

Navy commissions its first UAV
NEW DELHI, JAN 6(PTI)

In a major move to boost its maritime reconissance capability hit by depletion of its spy aircraft strength, Indian Navy today commissioned its first Unmanned Aerial Reconaissance(UAV) Squadron at its Southern Naval base in Kochi, joining a select band of navies the world over equipped this facility

Indian Nvy has become the first navy in ASIA to raise an exclusive squadron for unmanned aerial vehicles with the commissioning of its first unit-INAS 342-in Kochi....