Manmohan Singh Inaugurated International Container Trans-shipment Terminal

The Prime Minister, Dr. Manmohan Singh inaugurated India's first International Container Trans-shipment Terminal at Vallapadam in Kochi, Kerela on 11 February 2011. It will be an enduring symbol of the close ties India wish to build with extended neighbours in West Asia, particularly the United Arab Emirates. The first phase of the international container transshipment terminal inaugurated on 11 February handle one million TEUs (twenty-foot equivalent units) per annum.

The construction of this Terminal is integral to a comprehensive plan to develop Kochi as an economic and logistical hub of the region. The project area has been declared as a Special Economic Zone (SEZ). The terminal has been developed by Cochin Port Trust and M/s India Gateway Terminal Pvt Ltd (IGT), a subsidiary of M/s Dubai Port World (DPW) through a Public Private Partnership on Build Operate and Transfer (BOT) basis.The foundation stone for ICTT was laid in February 2005. The terminal is to be operated as DP World Cochin. The total cost of the first and second phase of the terminal is estimated at around Rs 6,250 crore. The Cochin Port Trust will own the ICTT and the DP World will undertake the cargo handling operations for 30 years.

A link road has been built to connect Vallarpadam with NH 47 and NH 17. The Railway Vikas Nigam Limited also completed the 8.5 km rail link that connects this Terminal to the railway network. The West Coast Canal, which has been declared as National Waterway 3 offers excellent hinterland connectivity for Kochi and Vallarpadam port along the length of Kerala till Kollam.

60% of India's export and import containers are transshipped through ports such as Singapore and Colombo which involves an additional expenditure of $300 per container and extra 7 to 10 days of transit time. With the building of this terminal Indian exporters can access mainline container vessels calling at one of the most well-located parts.