Kochi, Oct 10 : The Rs.2,118 crore (Rs.21.18 billion) International Container Transshipment Terminal (ICTT) - the country's first global hub terminal, at Vallarpardam near here is nearing completion and will be commissioned in the first quarter of 2010, officials said Saturday.

The facility is being developed by Dubai Port World (earlier known as Dubai Port International) and the container berth will be of 1,800m and have a depth of 14.5m.

Addressing reporters while on a visit to the site, Cochin Port Trust chairman N. Ramachandran said that the date for the opening of ICTT would be known soon.

"We will be able to say in the next 15 days when the ICTT will be opened but it will not be delayed beyond the first quarter of next year," he said.

The ICTT is expected to alter the development map of the state through huge investments in the coming years.

The project will see launch a series of ventures including the Rs.1,600-crore (Rs.16 billion) LNG terminal, the Rs.1,510 crore (Rs.15.1 billion) port-based Special Economic Zone, the Rs.315 crore (Rs.3.15 billion) International Ship Repair complex, the Rs.720 crore (Rs.7.2 billion) single buoy moorings for Kochi Refineries Ltd, the Rs.7000 crore (Rs.70 billion) petro chemical complex for Gas Authority of India, an international bunkering terminal, bulk cargo terminals, cruise ship terminals and an international marina.