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The Union Finance Minister has allocated Rs 11,635 crore for the development of Tuticorin port, in Tamil Nadu. This is one of the seven projects, which found space in the Union Budget 2014-15. Overall cost of the Tuticorin project was estimated to be around Rs 20,953.30 crore.
In his budget speech, Union Finance Minister said "Rs 11,635 crore will be allocated for the development of Outer Harbour Project in Tuticorin for phase I". The Outer Harbour Project was announced by the Former Finance Minister P Chidambaram, who also hails from Tamil Nadu, in the Union Budget during February 2013.
The project would be executed in four different phases at an estimated cost of Rs 23,432 Crores featuring 17 berths. The total Capacity addition would by 328 Million Tonnes, according to earlier Tuticorin Port (which now renamed as VOC Port) release.
Sources said that the a Detailed Project Report (DPR) is ready for the project, which will be developed uner PPP model.
The Outer Harbour project will enable the Port to berth big ships which would ultimately lead to lower the cost of shipping and handling cargo by achieving economies of scale.
First Phase of the development include Outer Harbour at an estimate cost of Rs 11, 635 crore with 5 berths (Coal – 2 Nos, Container – 3 Nos) and capacity addition would be 97.5 MTPA. The draught in front of the berths would be 16m.
Jaitely also announced that the master planning of three new smart cities in the Chennai-Bengaluru Industrial Corridor region, viz., Ponneri in Tamil Nadu, Krishnapatnam in Andhra Pradesh and Tumkur in Karnataka will also be completed. He added, Vizag-Chennai corridor would be completed with the provision for 20 new industrial clusters.
The Finance Minister also announced setting up six more Textile mega-clusters at Bareily, Lucknow, Surat, Kuttch, Bhagalpur, Mysore and one in Tamil Nadu.
"I am allocating a sum of Rs 200 crore for this purpose. New and Renewable energy deserves a very high priority. It is proposed to take up Ultra Mega Solar Power Projects in Rajasthan, Gujarat, Tamil Nadu, and Laddakh in J&K".
He also announced, two National Institutes of Ageing will be set up at AIIMS, New Delhi and Madras Medical College, Chennai.
