India to spend 450 crore on setting up Settwe port

Aizawl, Sep 3 (UNI) Union Minister of State for Commerce Jairam Ramesh said the Union Ministry has finalised a draft report to construct a port at Settwe on the Myanmar coast to give connectivity to the northeastern state of Mizoram.

India, he said, would invest 103 million dollars, which is about 450 crore, to develop the port which would be an alternative route to the north eastern region, especially Mizoram.

It would provide direct link to Myanmar and Visakhapatnam through the Kaladan river.

According to the detailed project report (DPR), India will sanction the funds to redevelop the old port of Akyab in Myanmar, which will be connected with the Kolodyne river that flows in southern Mizoram through a 60-km-long road.

The project would be implemented by RITES and was expected to be completed in three years and the Commerce Ministry had targeted to contribute a steady and sustainable environment for trade development in NE region by next year.

The matter has already been discussed by former Foreign Secretary Shyam Saran, who was sent to Yangon (Myanmar) to discuss the matter last month, he said.

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