Tuticorin port improvement will add 42 mt capability

Shipping Minister Mr. G.K. Vasan said, The creation of 2 more ports on the eastern coast and development of an outer harbour at Tuticorin will raise the ability of Indian ports by 142 million tonnes (mt) by the end of 12{+t}{+h}5 year plan. Reacting to the announcement made by the Union Finance Minister in his budget for 2013-14, Mr. Vasan said the development of major ports in West Bengal and Andhra Pradesh would add 100 million tonnes per annum (mtpa) capacity, while the development of the outer harbour at V.O. Chidambaranar Port, Tuticorin, at a cost of INR 7,500 crore would enhance its capacity by 42 mtpa and assist the Exim trade. Mr. Vasan said, at a time when ports were scouting for investments from the private sector, the introduction of investment allowance for new investments of INR 100 crore and more in plant and machinery for the next 2 years and extension of tax free infrastructure bonds will ensure easy flow of investment to help mechanization of ports.