Chennai: Contending that the maritime sector plays a curcial role in the nation's economic development, Union Minister of State for Finance and Shipping Pon Radhakrishnan said the work on establishing an international container transshipment hub at Enayam in Kanyakumari district is progressing and that a detailed project report on the port has been brought out.
"A detailed project report on the new port scheduled to come up in Kanyakumari district has been released. We have to wait and see the steps that need to be taken to implement the project," he said on Tuesday. Speaking to reporters here after addressing the Confederation of Indian Industry's (CII) second edition of CII Port Conclave 2018 with the theme "Port Led Economic Development," the Minister said several steps are being taken under the Sagarmala programme for developing various ports.
Under the Sagarmala programme, the development of the V.O. Chidambaranar Port in Thoothukudi, is also envisaged.
Earlier, while addressing the two-day Port Conclave 2018 being held under the aegis of CII, Mr Radhakrishnan said his ministry is implementing the Sagarmala programme by identifying as many as 577 projects at an estimated cost of '8.57 lakh crore. These projects would be implemented during 2015-2035.
The investments would be on port development, connectivity and coastal community development, he said. "Nearly 490 projects at an estimated cost of Rs. 4.25 lakh crore are under various stages of implementation, development and completion," the minister said and added that port modernisation programme under Sagarmala would reduce logistics cost.
CII Port Conclave 2018 chairman and Chennai Port chairman, P. Raveendran said the Sagarmala project has a list of goals which industries and government bodies are working on. "One such important goal is to reduce the cost of domestic transport," he said.
CII southern region chairman and joint managing director, TVS Ltd, R. Dinesh, Shipping Ministry's Joint Secretary Kailash Kumar Aggarwal, Krishnapatnam Port company CEO, Anil Yendluri, were also participated.
