New Delhi, March 22 (IANS) The Cabinet Committee on Economic Affairs on Wednesday approved fresh estimates for deepening and widening of the Mumbai harbour channel and the JN Port channel (Phase-II).
The cost of the project will be Rs 2,029 crore, excluding service tax.
As per an official release, the entire project cost will be funded through internal resources of the Jawaharlal Nehru Port Trust (JNPT) with market borrowing, if necessary.
“The project includes widening of the existing channel from 370 metres to 450 metres for straight reach, channel to be extended from existing 33.5 km to 35.5 km. The draft of the channel will be increased from existing 14 metres to 15 metres. The estimated quantity to be dredged is 35.03 million cubic metre, including 1.73 million cubic metre of rock dredging,” the release said.
The enhanced capability will help in handling larger vessels up to 12,500 TEUs (Twenty feet Equivalent Unit), besides economic benefits like saving in vessel waiting time and savings on account of trans-shipment.