Error in running SVN2RTC import

By using RTC 3.0.1.1 trying to import a svn dumpfile of 33GB, got a out of memory error while the importer processing after the related branch and user selection. Please can anyone help?

!ENTRY com.ibm.team.internal.repository.rcp.util.FileChannelUtil 2 900 2013-09-29 12:07:23.872
!MESSAGE Channel unexpectedly closed, suspect being interrupted
!STACK 0
java.lang.Throwable
    at com.ibm.team.internal.repository.rcp.util.FileChannelUtil.ensureOpen(FileChannelUtil.java:53)
    at com.ibm.team.internal.repository.rcp.util.FileChannelUtil.readUninterrupted(FileChannelUtil.java:196)
    at com.ibm.team.internal.repository.rcp.dbhm.BTreeHeap$FileHeapInputStream.read(BTreeHeap.java:434)
    at com.ibm.team.internal.repository.rcp.streams.UnsynchronizedBufferedInputStream.fillBuffer(UnsynchronizedBufferedInputStream.java:155)
    at com.ibm.team.internal.repository.rcp.streams.UnsynchronizedBufferedInputStream.read(UnsynchronizedBufferedInputStream.java:48)
    at java.io.DataInputStream.readBoolean(DataInputStream.java:246)
    at com.ibm.team.internal.repository.rcp.dbhm.DiskBackedHashMap.getTableEntry(DiskBackedHashMap.java:503)
    at com.ibm.team.internal.repository.rcp.dbhm.CachedDiskBackedHashMap.getTableEntry(CachedDiskBackedHashMap.java:126)
    at com.ibm.team.internal.repository.rcp.dbhm.DiskBackedHashMap.getEntry(DiskBackedHashMap.java:482)
    at com.ibm.team.internal.repository.rcp.dbhm.CachedDiskBackedHashMap.getEntry(CachedDiskBackedHashMap.java:109)
    at com.ibm.team.internal.repository.rcp.dbhm.DiskBackedHashMap.get(DiskBackedHashMap.java:155)
    at com.ibm.team.scm.client.importz.svn.internal.SVNRepositoryTree.getFolder(SVNRepositoryTree.java:129)
    at com.ibm.team.scm.client.importz.svn.internal.SVNRepositoryTree.getRoot(SVNRepositoryTree.java:362)
    at com.ibm.team.scm.client.importz.svn.internal.ui.SVNFolder2ProjectMappingPage$SVNRepositoryContentProvider.getElements(SVNFolder2ProjectMappingPage.java:147)
    at org.eclipse.jface.viewers.StructuredViewer.getRawChildren(StructuredViewer.java:959)
    at org.eclipse.jface.viewers.ColumnViewer.getRawChildren(ColumnViewer.java:703)
    at org.eclipse.jface.viewers.AbstractTreeViewer.getRawChildren(AbstractTreeViewer.java:1330)
    at org.eclipse.jface.viewers.TreeViewer.getRawChildren(TreeViewer.java:390)
   ---------------------------------
!ENTRY org.eclipse.core.jobs 4 2 2013-09-30 02:38:40.449
!MESSAGE An internal error occurred during: "Import from SVN".
!STACK 0
java.lang.OutOfMemoryError
    at java.lang.StringBuilder.<init>(StringBuilder.java:75)
    at com.ibm.team.filesystem.rcp.ui.internal.util.PathUtils.appendPath(PathUtils.java:58)
    at com.ibm.team.scm.client.importz.svn.internal.SVNRevisionTree.addCopy(SVNRevisionTree.java:434)
    at com.ibm.team.scm.client.importz.svn.internal.SVNRevisionTree.addCopy(SVNRevisionTree.java:435)
----------------------
!ENTRY org.eclipse.core.jobs 4 2 2013-09-30 02:38:40.464
!MESSAGE An internal error occurred during: "Loading News from 'Build Events for My Teams on ipsvm00155.swg.usma.ibm.com'".
!STACK 0
java.lang.OutOfMemoryError
    at sun.nio.ch.Net.localInetAddress(Native Method)
    at sun.nio.ch.Net.localAddress(Net.java:193)
    at sun.nio.ch.ServerSocketChannelImpl.bind(ServerSocketChannelImpl.java:173)
    at sun.nio.ch.ServerSocketAdaptor.bind(ServerSocketAdaptor.java:87)
    at sun.nio.ch.ServerSocketAdaptor.bind(ServerSocketAdaptor.java:80)
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