Pinning hopes on inland water transport, coastal shipping and tourism, the Kerala Shipping and Inland Navigation Corporation is eyeing a doubling of its business revenue to ₹100 crore in the next financial year.
Against the targeted turnover of ₹50 crore in the current fiscal, the state-owned entity has clocked ₹20 crore in Q3 despite setbacks to various activities on account of the pandemic.
However, the re-opening of tourism destinations will undoubtedly boost the cruise trips offered by vessels Nefertiti and Sagararani to Arabian Sea that would further mop up the revenue, said Prasanth Nair, Managing Director, KSINC.
The company has recorded a profit of nearly ₹1 crore in 2019-20. The focus on tourism activities has started generating income especially with the cruises which is evident from the enthusiastic customer bookings, he said.
The completion of various tourism boat construction works for Malabar-Malanad river cruise circuit, Ashtamudi Lake circuit, Kumarakom, Changanassery and Kodimatha water sports are in final stages. The high-speed water craft, a six-seater water taxi is expected to be operational by February next year. Besides, there are also plans to launch water taxis, family cruises, thematic cruises by May next year, he added.
The company has already supplied 36 kayaks to DTPC Kottayam and the construction of Shikkara boats is in progress. In addition, the trials are scheduled in January for jet skis in Kollam DTPC and the four- seater speed boat for Neyyar Dam. The construction of a 48-seater catamaran for Kollam and a 25-seater for Neyyar Dam is progressing.
KSINC, he said, is expanding its operations to Odisha, Bihar and Lakshadweep for projects which include building vessels to operate at Chilka Lake in Odisha and the Kanika National Park in Bihar. A blueprint of speed boat and house boat for the Chilka Lake has been submitted for approval.
There are also plans to construct a floating boat jetty for State Water Transport Department at various locations in Ernakulam as a pilot proposal. KSINC has also inked an agreement with the Inland Waterways Authority of India to run Ro-Ro services for cargo movement.