In a big boost to the port and shipping sector, govt is set to launch two mega projects entailing more than Rs 83,000 crore investment in Tamil Nadu and Maharashtra before the announcement of poll dates.
While the project in TN will add more capacity to the Chidambaranar port, the Vadhavan port in Maharashtra will be the first major (central govt) port to be developed after more than two decades.
Sources said PM Modi is scheduled to launch the Chidambaranar Port’s Rs 7,056 crore Outer Harbour project on Wednesday. TOI has learned that the Cabinet chaired by Modi approved the project to develop four berths that will add 4 million 20-foot equivalent unit (TEUs) capacity to the port.
TEU is a general unit of cargo capacity, often used for container ships and container ports. The Cabinet is also likely to give go ahead for Rs 76,000 crore Vadhavan Port project in the next two weeks before the model code of conduct kicks in.