The Indian Union Minister of Shipping Nitin Gadkari has said that an investment of INR 2500bn (USD 39bn) is being made in Tamil Nadu under Sagarmala program.
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.