India to set up a Rs 10,000 cr transshipment port in Nicobar

While inaugurating the first undersea optical fibre project to provide high-speed internet to Andaman and Nicobar Islands, Prime Minister Shri Narendra Modi stated that India is considering investing Rs 10,000 crore for building a transshipment port at Great Nicobar Island in the Bay of Bengal. He added that Andaman & Nicobar Islands will be developed as a hub of port-led development as it is at a competitive distance from many ports of the world. He note that a robust the network of waterways and ports is a prerequisite to India’s dream of being an important player in global supply and value chain.

The said port will be designed to provide shippers an alternative to similar ports in the region. The strategically located port offers two geographical advantages – proximity to the busy east-west international shipping route that can facilitate shorter transits and greater economies of scale, and deep natural water depths that can accommodate the latest generation of mega-ships. It would enable big ships to anchor and raise India‘s share in maritime trade as well as generate new job opportunities.