New Projects Inaugurated at Kamarajar Port in Tamil Nadu

Image
Capital Market
Last Updated : Jun 09 2017 | 6:47 PM IST
The Union Minister of Shipping, Road Transport & Highways Shri Nitin Gadkari has said that an investment of Rs 2 lakh 50000 crore is being made in Tamil Nadu under Sagarmala. Of this Rs.39,000 crore will be for port modernization, Rs.55,000 crore for port connectivity and Rs.1,50,000 crore for port led industrialization. The minister said this at Kamarajar Port in Chennai, where he inaugurated several new projects.

The projects include a New Container Terminal worth Rs.1270 crore, a new multi cargo terminal worth Rs.151 crores, Railway line to Container and Multi cargo terminal worth Rs. 60 crore, and RFID system worth Rs.11.82 crore. Shri Gadkari said the work being done under Sagarmala is estimated to create about 2 lakh direct jobs in the state in the next two years.

The Development of New Container Terminal project will provide more container handling facility for traders, it will also facilitate the new industries and ancillaries in the vicinity of the port, provide new job opportunities and will give boost to local economy.

The development of New Cargo Terminal project will provide more multi -cargo handling facility for traders, the new industries and ancillaries in the vicinity of the port and will boost the local economy. The New Container Terminal will also provide job opportunities.

The Rail Connectivity to Container and Multi Cargo Terminal project will improve cargo movement through rail route. The terminal will also reduce the logistic cost and reduce the load on roads and decongest the nearby roads for the benefit of general public.

The implementation of RFID System project will enhance the Ease of doing Business for traders. The RFID system will lead to reduction of time and congestion in cargo traffic and enhance the port operations.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jun 09 2017 | 6:40 PM IST

Next Story