Centre approves grant of Rs 5.15 billion for development of Sagar port

The central government has given in-principle approval to a Rs 5.15 billion grant for the development of Sagar port in West Bengal. The grant has been given to make the project financially viable. A special purpose vehicle (SPV), Bhor Sagar Port Limited, has been incorporated for project implementation, with the Kolkata Port Trust holding 74 per cent equity and the West Bengal government holding the remaining 26 per cent. The Indian Institute of Technology, Madras, has been engaged to prepare the DPR for the port, involving studies for shore protection, land reclamation and physical modelling for the use of dredged materials.