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Mega port projects to get cabinet nod today

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Two mega port projects, to be built in and , are likely to get the cabinet’s nod on Thursday. The initial investment in these projects will amount to a whopping Rs 15000 crore. They will be built in the cities of Colachel and Dahanu under the public-private partnership (PPP) model.

The initial investment in these projects will amount to a whopping Rs 15000 crore

India has 12 ports, which reportedly handles about 600 million tonnes of cargo traffic. The government has set up a target to double this number by 2020, The Economic Times reports.

The port that is being built in Colachel (Tamil Nadu) will act as a gateway of trans-shipment in India. The initial investment – for phase I – will be Rs 6000 crore, but by the time the port is completed, the total cost will amount to almost Rs 21000 crore, The Economic Tmes quoted a senior shipping ministry official who requested not to be named as saying.

“These two projects are likely to get Cabinet clearance this week. Two more major port proposals, one in Sagar in Maharashtra and another in Andhra Pradesh, will be sent for the Cabinet Committee on Economic Affairs’ clearance next month,” he was further quoted by The Economic Times as saying.

The , which will be a multi cargo port, will be set up to de-congest the Jawaharlal Nehru port trust. The proposed port will be set up 4.5 nautical miles off Dahanu coast, around 150 km from Mumbai.

The government will issue tenders by March end to find a consultant for the proposed trans-shipment port. The project will involve reclaiming 500 acres of land from the sea.