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Saturday, September 23, 2006

Tuticorin Port awaits nod for Rs 840 cr capex

The Tuticorin Port Trust is awaiting the Centre’s approval for three major inner harbour development projects estimated to cost Rs 840 crore. The cargo traffic in the port has been growing at a rapid pace and it is expecting substantial increase in the traffic in the east coast after the completion of the Sethusamudram Ship Canal Project. The port hopes to win a good share of the new traffic and attract more cargo.

The projects include dredging the harbour basin to a depth of 14 metres and channel to 14.6 metres, (estimated to cost Rs 460 crore), constructing five more berths, (Rs 230 crore) and converting berth No 8 into a container terminal on build, operate and transfer basis (Rs 150 crore).

The Union minister for shipping and transport Mr TR Baalu said recently in Chennai that the shipping ministry would support the investment plans of the Tuticorin Port Trust. He said all professional decisions for the development of port infrastructure would be considered very favourably and backed by the ministry.

The Tuticorin Port Trust Chairman NK Raghupathy told FE the ministry has forwarded the proposal to Public Invest-ment Board (PIB). After PIB approval they will go for the clearance of the Cabinet Com-mittee on Economic Affairs.

To meet the increasing container traffic and to attract the mainline vessels, the harbour basin and approach channel have to be deepened. This was one of the major proposals of the Indian Ports Authority which had conducted a study on the development needs of the port.

Source: Finiancial Expresss

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