Rs 224 crore support for dredging project at VOCPT cleared
21 March 2014 12:09 AM GMT
The Cabinet Committee on Economic Affairs (CCEA) on Thursday approved a budgetary support of Rs 224 crore for dredging purpose at V O Chidambaranar Port Tuticorin (VOCPT) in Tamil Nadu.
The CCEA has approved the grant of budgetary support of Rs 224 crore for the project ‘dredging in front of North Cargo Berth-II and two numbers of shallow draught berths at V O Chidambaranar Port,’ a government source said.
Total cost of the project is estimated at Rs 448 crore, inclusive of dredging cost, mobilisation and de-mobilisation charges, service tax and contingencies. The project duration is nine months from the date of award of work. The source said the CCEA has approved only 50 per cent of the total project cost.
The project is part of government initiative to boost cargo handling capacity at major ports in India.
Last year, VOCPT handled cargo capacity of 28.26 million tonnes, as against its total capacity 33.34 million tonnes.
The port is projected to handle about 41 million tonnes during 2014-15 and 59 million tonnes by 2020, the source added.
The CCEA has approved the grant of budgetary support of Rs 224 crore for the project ‘dredging in front of North Cargo Berth-II and two numbers of shallow draught berths at V O Chidambaranar Port,’ a government source said.
Total cost of the project is estimated at Rs 448 crore, inclusive of dredging cost, mobilisation and de-mobilisation charges, service tax and contingencies. The project duration is nine months from the date of award of work. The source said the CCEA has approved only 50 per cent of the total project cost.
The project is part of government initiative to boost cargo handling capacity at major ports in India.
Last year, VOCPT handled cargo capacity of 28.26 million tonnes, as against its total capacity 33.34 million tonnes.
The port is projected to handle about 41 million tonnes during 2014-15 and 59 million tonnes by 2020, the source added.
Next Story
