The Centre on Saturday will invite expressions of interest (Eol) for the development of an international container transshipment port at Galathea Bay of Great Nicobar in the Bay of Bengal, the ministry of ports, shipping and waterways said on Friday.
The project, which is being complemented by an airport, a power plant, and a township, is estimated to cost ₹72,000 crore. The port's cost has been set at ₹41,000 crore by the Centre and will be undertaken on a public-private partnership (PPP) mode.
Close to 850,000 trees may have to be felled for the project.
Despite the numerous environmental issues brought to the fore during the conception stage of the project, the Centre finally decided to go forward with it, seeing an economic opportunity in southeast Asia's maritime trade, it is learnt.
"Currently, nearly 75 percent of India's transhipped cargo is handled at ports outside India. Colombo, Singapore, and Klang handle more than 85 percent of this cargo. Of this 85 percent, Colombo Port handles more than 45 percent. Indian ports can save $200-220 million each year on transhipment cargo (with this port).
هذه القصة مأخوذة من طبعة January 28, 2023 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة January 28, 2023 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Cement stocks may remain tepid in near term
Likely weak demand over the next few months as the monsoon season gathers pace, coupled with no price hikes, may keep cement stocks tepid in the near term, believe analysts. As a strategy, however, they suggest investors accumulate related stocks on dips, encashing benefits of a rebound in the second half of the current financial year.
No poll jitters for MF scheme launches
Fund houses to provide better entry points after June 4
Scramble for ERP licence as doubts linger on mkt size
About a dozen players dive into the fray
Sunil Chhetri, Indian football's brightest star, to hang up his boots
World Cup qualifier against Kuwait on June 6 will be his last game
WATERED DOWN
As Bengaluru segues from a parched summer to torrential rains, citizen groups and authorities evaluate the city's future as India's IT capital
SUV sales drive M&M profit to beat estimates
Mahindra and Mahindra (M&M) has reported a 4 per cent jump in consolidated net profit for the fourth quarter of the 2023-24, riding on a 9 per cent year-on-year (Y-o-Y) growth in revenue to ₹35,452 crore.
Vi Q4 loss rings louder on higher finance cost
Arpu, revenue rise marginally; telco sees 4G subscriber base grow
Regulatory fee or unjust enrichment?
Regulators are empowered to levy fees for services rendered, not to impose tax-like levies to create surpluses for themselves
Netflix nears deal for NFL games, extending focus on sports events
Netflix Inc will air two National Football League games this Christmas Day, in the streaming TV giant's latest push into live events.
Xi, Putin call for political solution’ to Ukraine war
Both leaders warned of growing nuclear tensions between rival powers
