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Centre nod to set up ports in West Bengal, Andhra Pradesh - 2013-05-17

The government approved a proposal to set up two major ports in West Bengal and Andhra Pradesh at an investment of Rs 15,820 crore and also cleared a package for revival of five closed units of Fertilizer Corporation of India. "The proposal for setting up two major ports in West Bengal and Andhra Pradesh has been cleared," Information and Broadcasting Minister Manish Tewari told reporters after a meeting of the Cabinet Committee on Economic Affairs (CCEA).
The West Bengal port will have a capacity of 54 million tonnes per annum requiring an investment of Rs 7,820 crore while the one in Andhra Pradesh will have a capacity of 50 million tonnes and cost Rs 8,000 crore.
The new ports will be notified as major ports under the Indian Ports Act, 1908, and are likely to set up in PPP mode. The revival package for the five units of Fertiliser Corporation will include a waiver of Rs 10,644 crore in interest and loans.
Source: The Economic Times