The Hindu Business Line : Maytas secures mandate for Machilipatnam port

Initially, the project was to be developed at Gogileru with an outlay of Rs 1,255 crore. With pressure from local people and political circles, the Cabinet approved the development of project at Machilipatnam, even though it means an additional investment of about Rs 300 crore.

The developers have been asked to go ahead with the project with an assurance that the Government would pitch in for the funds. As per proposals, the foundation stone for the port development is likely to be laid by the UPA Chairman, Ms Sonia Gandhi, in April.

Functions

Addressing newspersons after the State Cabinet meeting here on Thursday, the State Information Minister, Mr Anam Ramanarayana Reddy, said the port is aimed at handling 12 million tonnes of cargo, which includes coal, fertilisers, cement and rice among others.

The port may also handle inputs for power plants and fertiliser units, and encourage ship building and repair. The Government is also evaluating a ultra mega power project here and may propose this to Centre.

When the expression of interest was issued, the project was to come up at Gogileru. However, those dependent on Machilipatnam port protested against the move to have the port at Gogileru, about 30 km from Machilipatnam.

The State Government had appointed a committee of secretaries to examine the issue on various technical parameters. The Committee may consider and recommend about additional cost for the developer, he explained.

MANAGEMENT SCHOOL

In other decisions, the cabinet approved the setting up of Narsee Monjee Institute of Management Studies (NMIMS) University at Jadcherla in Mahboobnagar district. It is proposed to have Schools of Business Management, Pharmacy and Technology Management, and School of Technology Management and Engineering.

In other decisions, the Cabinet approved Government guarantee for National Minorities Commission and for Andhra Pradesh State Financial Corporation, the latter is raising funds through offer of bonds.

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