Navigation through the Palk Strait may become a reality soon. A techno-economic feasibility study carried out by the Shipping Corporation of India (SCI) has established the viability of the Sethusamudram project, gathering dust for over 100 years.
According to the study, a canal could be opened to smaller vessels by the year-end by carrying out minimal dredging, ports and shipping minister Vedprakash P Goyal said.
The total investment required would be around Rs 200 crore for dredging works to increase the draught to seven metres for a 800 metre wide channel, Goyal said, adding that the total saving to shipping companies from the project was estimated at Rs 50-60 crore annually.
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The ministry is studying the report, that was submitted last week, and is expected to seek the Cabinet approval for the project soon.