The Union Cabinet is finalising the DPR (Detailed Project Report) for the International Container Transhipment Port (ICTP) at Galathea Bay, Great Nicobar Island. The estimated construction cost of the project is 44,000 INR-Crore, while it will be developed in a phased manner including four phases.
Phase I will have a capacity of 4 MTEUs (Million Twenty-foot Equivalent Units), proposed to increase gradually up to 16 MTEUs by 2058. The estimated construction cost of this phase is 19,000 INR-Crores whereas is anticipated to be completed by 2028.
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The project received environmental clearance in November 2022 from the Ministry of Environment, Forests & Climate Change (MoEF&CC). MoEF&CC also gave the stage I Forest clearance for the same. Moreover, ICTP has obtained “In-principle” approval from the Department of Expenditure, Ministry of Finance. This was towards the holistic development of Great Nicobar Island.
ICPT aims to become a leading container transhipment port by utilizing its strategic location (40 nautical miles from the international shipping trade route), natural water depth of over 20m, and ability to handle transhipment cargo from nearby ports, including Indian ports. Furthermore, it will result in significant milestones such as foreign exchange savings and improved logistics infrastructure. Additionally, it will increase efficiency, reduce external debt, increase employment opportunities, and increase revenue shares.
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