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Our Bureau

New Delhi, Feb. 22

The Cabinet Committee on Economic Affairs (CCEA) on Thursday gave its revised sanction for the acquisition of 109 marine vessels for the Customs department at a cost of Rs 358.19 crore. The procurement is likely to be completed by 2009. In December 2004, the CCEA had sanctioned the acquisition of these vessels at a cost of Rs 154 crore, the Union Finance Minister, Mr P. Chidambaram, told presspersons after the CCEA meeting here on Thursday.

"On the basis of tenders invited and accepting the lowest tender, the cost has now increased. Together with the non-recurring expenditure and annual maintenance expenditure, the cost is now placed at Rs 358 crore," Mr Chidambaram said. Acquisition of marine vessels is expected to assist the Customs department in the discharge of its statutory functions.

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