KoPT mulls entering real estate business

Kolkata: The Kolkata Port Trust (KoPT) is planning to foray into real estate business by increasing its revenue from leasing out land.

"We are getting Rs 250 crore per annum by leasing out land for various purposes. We have done our homework on the land parcels which are of good potential to us. The Shipping ministry is framing a revised uniform land policy regarding the land under the port areas in the country. It will take another two to three months for the policy to come then we will proceed," KoPT chairman Vinit Kumar said.

A senior official of KoPT said that they have plans to lease out land for township projects. "The KoPT has approximately 4,000 acre land across the state. Many of these lands are large and can be utilised in real estate too," the official said.

However, he admitted that several litigations are pending in various courts across the city regarding KoPT lands. The number of such cases is nearly 600. The KoPT land in the city has been given on lease to various companies who have built godowns. The official further informed that the dredging work for increasing the draft of Haldia Dock Complex has already started with the latest technology. "We are holding talks with the state government for some land at Nayachar islands near Haldia for a dumping ground. Now, it takes a lot of time as we have to dump the dredged materials at a place in Sagar, South 24 Parganas which is quite far," the official said.