New Delhi: The deep sea transhipment port proposed to be developed at Colachel in Tamil Nadu will entail a cost of Rs.27,570 crore, Parliament was informed on Thursday.
“The aim is to develop a deep sea transshipment port at Colachel (Enayam), very close to the great east-west shipping route,” minister of state for shipping P. Radhakrishnan said in a written reply in the Lok Sabha.
“As per the techno-economic feasibility report, the estimated project cost is Rs.27,570 crore. The port is proposed to be developed through investment by government and public-private partnership (PPP) mode.”
The development of the major port will start in 2017 and go on till 2030, the minister said.
In a separate query, Radhakrishnan said Sagarmala is a long-term programme, which was approved by the cabinet on 25 March 2015. The programme involves drawing up a national perspective plan for port modernization and development, port connectivity enhancement, port-led industrial development and coastal community development, he added.
To exploit the potential of India’s 7,500-km-long coastline and 14,500 km of potentially navigable waterways, the Sagarmala programme aims to promote port-led development.
Sagarmala will entail an estimated infrastructure investment of more than Rs.2 trillion. As part of the national perspective plan, a total 173 projects have been initially identified across the programme objectives, which will result in significant investment in the maritime infrastructure, create employment, reduce logistics costs and boost merchandise exports over the next decade.
“A projection has been made that identified industrial cluster projects once implemented will enable creation of approximately one crore jobs, including 40 lakh direct and 60 lakh indirect jobs in the next 10 years,” Radhakrishnan said.