Govt clears OCT for Mumbai port

The government approved the development of Offshore Container Terminal (OCT) at Mumbai port with an estimated investment of Rs 1,228 crore.

The Cabinet Committee on Economic Affairs (CCEA) approved the development of offshore container terminal on BOT basis at Mumbai port, under license agreement to be entered into by Mumbai Port Trust (MbPT) with the BOT operator informed Finance Minister P Chidambaram. MbPT would enter into a licence agreement with a consortium of Gammon India, Gammon Infrastructure and Dragados SPL, Spain. The total cost of the OCT project is estimated at Rs 1,228 crore. The investment by the BOT operator would be Rs 862 crore and the investment by Port to carry out works under their scope would be Rs 366.39 crore.

The capacity addition due to implementation of this project would be Rs 9.6 million tonnes per annum. It would facilitate the Mumbai port to bridge the capacity gap in Mumbai region along with JNPT.

Read More