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| Chennai port to invest Rs 139.80 cr in Ennore-Manali road project |
| BS Reporter / Chennai Feb 09, 2010, 00:32 IST |
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The Chennai Port Trust (ChPT) has received the shipping ministry's nod to invest its equity portion of Rs 139.80 crore in the Ennore Manali Road Improvement project.
“Tender will be called immediately and we would like to complete the project in 48 months,” shipping minister GK Vasan told reporters here on Monday.
The project, which was conceived in 1998, hit a road block as the Chennai Port did not release its equity portion which led the NHAI to recall the same.
The ministry had convened a joint review meeting with Vellakoil Saminathan, state minister for highways and minor ports and other stakeholders, including chairmen of National Highways Authority of India and Chennai and Ennore ports, to decide on the issue.
Originally, the cost of the project was Rs 150 crore, which has been revised to Rs 600 now due to addition of service road to the four lanes of Thiruvottiyur-Pooneri-Panchetti road, underpass on Ennore Expressway Road and drainage on Manali Oil Refinery Road.
Moreover, the delay in implementing the project too added to the cost, said Vasan.
With this revision, the share of equity contribution of Chennai port has increased to Rs 139.80 crore from the original Rs 38 crore and for Ennore Port it is Rs 34.02 crore from Rs 17.50 crore.
The state government would contribute Rs 58 crore, while NHAI would share 28.30 per cent. The remaining money will be borrowed.
The project envisages improvement of 30 km road that connects all the container freight station of Chennai port in north Chennai.
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