Ace Apartment, Naxal, Kathmandu +977 1 4444607

Business News

Four cargo berths at Kandla port approved

Thursday, August 20, 2009 (17:04:11) Tags: business, imports, exports, cargo berths, Kandla Port Trust, freight charges New Delhi: The government today approved development of four multipurpose cargo berths at Kandla port on an investment of Rs.755.5 crore. "The Cabinet Committee on Infrastructure gave its approval for implementation of the project - four multipurpose cargo (other than liquid or container cargo) berths - at Kandla Port Trust, at an estimated cost of Rs.755.5 crore," an official statement said. Of the total investment, Rs.728.84 crore will be spent to build, operate and transfer the project by a private party, while the Kandla Port Trust would incur a cost of Rs.26.66 crore over two years from the date of award of concession, the statement added. With this, Kandla port will be enabled to handle additional quantity of eight million tonnes of dry cargo annually. It is also expected to reduce freight charges, boost export-import trade and promote industrial activity near the port, thereby creating more job opportunities. The project will also help in de-congestion of the port.(IANS)