India would invest more than 380 crore to extend the draught depth at the port to 16 metres in an effort to replace Sri Lanka’s Colombo port as a potential trans-shipment hub.
According to SarbanandaSonowal, the minister for ports, shipping, and waterways, additional investment is also being considered to increase the international trans-shipment terminal’s capacity to 2 million TEUs.
According to him, Cochin Port has been asked to cover the remaining 50% of the cost while a portion of the draught deepening cost—roughly 50%—will be covered by the Sagarmala program.
The concessionaire has expressed interest in spending money to increase the terminal’s capacity to 2 million TEUs.
