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The Union Minister of Shipping, Road Transport and Highways, Thiru T. R. Baalu is leading an official delegation to visit the Suez Canal and Panama Canal sites. The Chairman, Tuticorin Port Trust and the Joint Secretary (Ports), Ministry of Shipping, Road Transport and Highways are accompanying the Minister. The purpose of the visit, beginning today, is to get first hand experience of the location and operation of the Suez Canal in Egypt and the Panama Canal in Panama City. The visit is expected to provide valuable insights regarding planning and execution of major man-made ship canal projects in the world. The study of these man-made canals would provide useful inputs for design and implementation of the Sethusamudram Ship Canal Project that would connect Gulf of Mannar to Bay of Bengal through Palk Bay, thereby providing a continuous navigable sea route between the East and West Coast of India within India’s own territorial waters. During the visit, Thiru Baalu would meet the Second Vice President of Panama, H.E. Mr. Rueben Arosemena, In-charge of Maritime Affairs of Panama and Administrator of the Panama Canal.
The total project cost of the Sethusamudram Ship Canal Project is expected to be about Rs. 2000 crore. The Detailed Project Report is under preparation and is expected to be ready by November, 2004.Tuticorin Port Trust (TPT), the nodal agency for the project, has applied to the Tamil Nadu Pollution Control Board for a No Objection Certificate for the project. TPT has also applied to the Ministry of Environment and Forests, Govt. of India for environmental clearance. It has been decided by the Ministry of Shipping, Road Transport and Highways to form a Special Purpose Vehicle (SPV) by the name ‘Sethusamudram Corporation Limited’ to raise finance and to undertake execution of the project.
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