TimesAsiaNews.com | The construction of the port on India’s largest archipelago, north of Sumatra, will be able to handle 16 million containers per year and in the first phase will handle over 4 million containers.
As part of the holistic development of Great Nicobar Island, the Ministry of Ports, Shipping, and Waterways is working towards the development of the Mega International Container Transhipment Port (ICTP) at Galathea Bay.
The holistic development of the Great Nicobar Island aims to improve the economic opportunity for the rapid increase in the size of all types of vessels – from feeders to large inter-continental carriers. The development also helps to bridge the infrastructural gaps of the island.
Ministry invites EOI
The ministry has invited expressions of interest (EOI) from all the interested players having relevant technical and operational experience. The transshipment project is expected to be completed with an investment of Rs 41,000 crore (USD 5 Billion). Kolkata-based Syama Prasad Mookerjee Port is the nodal agency for the implementation of this project.
Salient features
The transhipment project is of immense importance because of its: (a) Strategic location in terms of proximity (40 nautical miles from Malacca Strait) to the International Trade Route with existing transhipment terminals like Singapore, Klang, and Colombo, (b) Availability of natural water depth of more than 20 meters, and (c) Potential to capture transhipment cargo from all the ports in the proximity including domestic one.
Significance
It becomes necessary for India to have a transhipment hub that can save revenue loss, reduce logistics inefficiencies, and can create an opportunity to become a large hub for Asia-Africa, Asia-US/Europe container traffic trade. At present, about 75 percent of the nation’s transhipped cargo is handled at ports outside the country.
The development of the Galathea Bay port project will save US dollars 200-220 million a year on transhipment cargo. The port is expected to handle 16 million containers per year and in the first phase will handle above 4 million Containers.
Other projects
The other development projects planned around the transshipment port include an airport, township, and power plant.
Employment opportunities
With the development of the International Transhipment Port at Great Nicobar Island, there is a huge potential for the creation of around 1,700-4,000 jobs. (**)
financeexp/tanews
