Union Cabinet Expected to Greenlight Rs 44,000 Crore International Container Transhipment Port Project in Great Nicobar
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The Union Cabinet is anticipated to grant approval for the International Container Transhipment Port (ICTP) development at Galathea Bay, Great Nicobar Island, by the year-end. Envisioned at a cost of Rs 44,000 crore, the project is set to enter the tendering phase for its first stage in early 2024. The four-phase plan aims for operationalization by 2028, starting with a 4 million TEUs capacity, ultimately scaling to 16 million TEUs by 2058. Phase 1, estimated at over Rs 19,000 crore, encompasses breakwaters, dredging, berths, storage areas, infrastructure, equipment procurement, and a port colony.
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Note: The above-mentioned news was first published by us in our ProjectX India | 1st December 2023 edition.. Do you want to buy this issue or our latest issue? If yes! click here
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