CCEA okays 4-laning of terminal at Cochin

New Delhi, Apr 12 (UNI) The Cabinet Committee on Economic Affairs (CCEA) today gave approval for undertaking the project for Rs 557 crore for four-laning National Highway (NH) connectivity to the proposed International Container Transhipment Terminal (ICTT) at Vallarpadam, Cochin.

This project has been undertaken as per commitment given to the licensee of ICTT. Being a first container terminal in India, considerable savings in transhipment cost currently incurred via third country ports like Colombo are expected.

The project will be implemented by NHAI and is to be completed within a period of 30 months and will be commencing from this month Information and Broadcasting Minister P R Dasmunsi told reporters after the CCEA meeting.

In January, 2005, Cabinet approved the proposals for development and operation of International Container Transshipment Terminal (ICTT) in Cochin on Build Operate and Transfer (BOT) basis.

Accordingly, Cochin Port Trust signed a license agreement on January 31, 2005 with India Gateway Pvt Ltd, a subsidiary of Dubai Port International, UAE.

As per license agreement, provision of four lane NH connectivity is a condition precedent.

Accordingly, Cabinet now approved a project for four lane NH Connectivty at a cost of Rs 557 crore.

UNI