Shipping Ministry commits Rs 200 cr for TN waterways project

Our Bureau Chennai | Updated on January 12, 2018 Published on June 09, 2017


Centre ready to give viability gap funding for private investors

The Union Ministry of Road Transport, Highways and Shipping has committed ₹200 crore to form water transport corporation in cooperation with the Tamil Nadu Government to run ferry service from Thiruvananthapuram to Kanyakumari, and onwards to Chennai.

The Ministry will also provide viability gap funding to encourage private investors participate in this waterways project, said Nitin Gadkari, Union Minister for Road Transport, Highways and Shipping.

He said while inaugurating projects worth ₹1,492 crore at Kamarajar port in Ennore. The projects include a private container terminal, a multi-cargo terminal and three other projects.

The Ministry will provide subsidy to things like creating jetty at the minor ports. “You submit all the proposals to me, we will support you. By creating this ₹200 crore as equity, and whatever amount the State Government could provide, please do so. I am requesting private investors to invest in this water transport. We will give viability gap funding,” he said.

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Published on June 09, 2017
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