13th Major in India

The Centre has given its ‘in-principle’ approval to set up the country’s 13th major port at Enayam, near Colachel in Tamil Nadu. 

Details:

• A special purpose vehicle (SPV) will be formed for the development of port that will act as a major gateway container port for cargo and become a trans-shipment hub for East-West trade route. 
• The initial investment for the SPV will come from three major ports in Tamil Nadu — V. O. Chidambaranar Port Trust, Chennai Port Trust and Kamarajar Port Limited. 
• The new port at Enayam will also reduce the logistics cost for exporters and importers in south India who currently depend on trans-shipment in Colombo or other ports leading to additional port handling charges.