Kolkata Port Trust Chairman RPS Kahlon informed that the port was awaiting cabinet approval from the centre for the Rs 7851 crore Sagar port project in West Bengal.
The West Bengal cabinet had approved the project and Kahlon expects the union cabinet to clear it soon.
Kahlon reportedly expressed satisfaction at the mention of the port project by the Union Finance Minister Chidambaram while presenting the Budget for 2013-14.
Chidambaram said that two new major ports will be set up in West Bengal and Andhra Pradesh. Kahlon said the Sagar port will not be a separate one, but will be a part of the Kolkata Port Trust which is facing low draught related issues at Haldia.
The investment in port would be Rs 4,000 crore and Rs 3,800 crore for building rail and road connectivity. The 74:26 JV between the Centre and the state will execute the 54-million tonne per annum capacity port through PPP model and therefore there will be no major investment from either the centre or state government except seed capital for the SPV, Kahlon said.
RITES, the consultant appointed by the Kolkata Port Trust to study the feasibility of a new major port in West Bengal, has submitted its report. Kahlon said initially the port will reclaim 70 hectare land from the sea for the port.
The centre planned an investment of Rs 73,793 crore for development of various port projects in the 12th Plan, which includes two new major ports in West Bengal and Andhra Pradesh.