The Hindu Business Line : CCEA okays JN port expansion project

THE Cabinet Committee on Economic Affairs (CCEA) on Thursday approved a project to deepen and widen the main harbour channel and the approach channel of the Jawaharlal Nehru port, which will cost about Rs 800 crore.

The move will enable the port to attract large vessels and also facilitate its emergence as a regional container hub. The project, to be completed within 27 months, consists of a direct capital cost of Rs 670 crore, a financing cost of Rs 58 crore (interest during construction or IDC) and Rs 71 crore as contingency expenses and expenditure on other related items such as channel-marking buoys and other overheads, said the official spokesperson.

The project will enable JN port to attract deep draught vessels, which would save foreign exchange by minimising ship waiting and transportation cost. Shipping lines would also be willing to bring in their mother vessels directly to the port.

Moreover, it will be an efficient gateway for imports and exports of industries located in the special economic zone planned adjacent to the port at Dronagiri. The SEZ has been planned by City and Industrial Development Corporation of Maharashtra Ltd (CIDCO).

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