NEW DELHI: The Centre would soon build a major port at Colachel in the southernmost tip of Tamil Nadu at an estimated cost of Rs 21,000 crore, envisaged to emerge as a southern gateway of transshipment in the country.
Coming close on the heels of the Vizhinjam International Deepwater Multipurpose Seaport in Kerala to be developed by the Adani Group, about Rs 21,000 crore would be spent to establish the Colachel port at Kanniyakumari district in neighbouring Tamil Nadu.
Briefing newspersons here, union minister of state for shipping Pon Radhakrishnan today said, government of Tamil Nadu has given its consent to the Centre to facilitate developing the port.
“A Special Purpose Vehicle (SPV) would be created for the purpose. The port would be developed in three phases and it would take three years for completing the construction,” he said.
The minister, however, did not elaborate the roadmap as to whether the port would be built on Public Private Partnership (PPP) model and did not talk about the monetary contribution by the Union government in establishing it.