COCHIN: If all goes well, the ambitious outer harbour project of Cochin Port Trust (CPT) worth Rs 3,050 crore will be ready by June 2020, says A V Ramana, Chairman (in-charge), CPT.
According to him, the Indian Navy will give Rs 1,050 crore for the project. Ramana says that the Central Government may provide funding under Sagarmala project for outer harbour.
Once outer harbour is in place, the dredging cost of Cochin Port – Rs 120 crore a year now – will drop to Rs 60 crore.
Sagarmala project is a strategic and customer-oriented initiative of the Central Government to modernise India’s Ports so that port-led development can be augmented and coastlines developed to contribute towards India’s growth.
“Funding outer harbour project under Sagarmala is just a proposal. If this is through, we will not have to worry about the financial side of the project,” says Ramana.
Indian Institute of Technology-Madras will submit the sedimentation status of the sea report for the outer harbour project by June 2017. Then, a committee will be appointed to study the financial viability of the project. Cochin Port will, then, approach both State and the Central Governments for licence. It will take about one year.
“The viability report is expected by December 2017. We expect to get clearance by the Ministry of Environment and Forests by June 2018. Then, the project will be awarded by an open tender. The port expects to complete the project by June 2020,” says Ramana.