M. Beena, Managing Director of the Kerala State Industrial Development Corporation, has been appointed chairperson of Cochin Port Trust (CPT), ending more than two years of interim arrangements to manage the affairs of the port trust.
Dr. Beena told The Hindu that the order for her appointment had been issued and that she expected to be relieved of her present duties within a week.
The last full-time chairperson of CPT, Paul Antony, ended his term in May 2016. The CPT was initially managed by the chairperson of Chennai Port Trust, who held additional charge. At present, deputy chairperson of CPT A.V. Ramana has been managing the affairs as chairperson in-charge.
Dr. Beena is taking charge even as the port’s cargo operations are showing healthy growth but the port trust is not in the pink of health.
Increasing maintenance dredging cost for the Vallarpadam International Container Transshipment Terminal continues to drag the port’s profitability.
Mr. Antony had completed a five-year term during which he was able to turn CPT around with an operating surplus of ₹70 crore during 2015-16.
He had introduced austerity measures to ease the financial constraints.