PUDUCHERRY: At a time when government is looking at ways to enhance its revenue, the Karaikal Port earned it a revenue of Rs 3.9 crore as concession fee for the first three quarters of the current financial year.Out of that amount, minister for Ports M Chandrakasu handed over a cheque of Rs 1.29 crore earned in respect of the third quarter of the financial year 2011-12 to Chief Minister N Rangasamy on Friday.According to an official press release, in anticipation of the gross income of Rs 200 crore to Karaikal Port Private Limited during 2011-12, the Government of Puducherry is expected to receive Rs 5.2 crore as concession fee. The Government of Puducherry had received an income of Rs 1.26 crore as concession fee during 2009-10 and Rs 4.41 crore during 2010-2011.Subsequent to the declaration of a port at Karaikal, the government decided to develop it as an all weather deep-water port through private investment on build, operate and transfer (BOT) basis. Accordingly an agreement was entered into between Government of Puducherry and MARG Constructions Limited, Chennai, on January 25, 2006.Phase-I of the project comprising two berths handling four million tons of cargo was completed in April 2009 at an estimated cost of Rs 416 crore and it started functioning. The port received its first project cargo vessel M V Beluga Fanfare in April 2009 and berthed it in the newly built port.
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