The government on Tuesday said it has granted Rs 515 crore for making the Sagar Port project in West Bengal financially viable.
According to the Ministry of Shipping, a special purpose vehicle (SPV) -- Bhor Sagar Port Limited (BSPL) -- has been created for execution of the project. The SPV is a joint venture (JV) between Kolkata Port Trust holding and the West Bengal government.
The ministry said Kolkata Port Trust holding will have a 74 per cent equity stake in the JV firm, while the rest will be held by the government of West Bengal.
"IIT, Madras, has been engaged to prepare a detailed project report (DPR) for the port, involving studies for shore-protection, land reclamation and physical modeling for use of dredge material," the ministry said in a statement.
As per the ministry, work is also underway for developing port connectivity.
"A road-cum-rail bridge is proposed over the river Muriganga to connect the Sagar island to the mainland," the statement said.
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"National Highways and Infrastructure Development Corporation Limited (NHIDCL) has prepared the DPR for this road-cum-rail bridge. The estimated cost of the bridge is Rs.1822 crores."
The ministry elaborated that the Ministry of Road Transport and Highways has agreed, in-principle, to take up widening of NH-117 to a four-lane road from Kakdwip to Joka and up to the rail-cum-road bridge to the Sagar Island.
"The Railway Board has sanctioned a survey for determining the alignment to connect the Port with the mainland rail network," the statement added.
--IANS
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