TN awaits Rs. 27,570-cr mega port project

In order to recapture trans-shipment traffic currently handled by Colombo, Singapore, and Malaysia‘s Port Klang, the shipping ministry is currently contemplating to set up a trans-shipment hub in Tamil Nadu at an investment of Rs. 27,570 crore. To ensure hassle-free land acquisition process, the mega port project is being set up under the landlord model, while the government will retain regulatory oversight of the port to provide the basic infrastructure which will be leased out to private operators. According to the feasibility study, Phase 1 is likely to cost Rs. 6,575 crore and the ministry expects the first container berth of its planned new deep sea trans-shipment port in the southern state to be operational by 2020.