CCEA approves fresh estimates for deepening and widening of Mumbai harbour and JNPT channel

The Cabinet Committee on Economic Affairs has approved fresh estimates for the deepening and widening of the Mumbai harbour channel and the Jawaharlal Nehru Port Trust (JNPT) channel (Phase II). The project is expected to entail an investment of Rs 20.29 billion, excluding service tax. The project will be funded through JNPT’s internal resources, which will be supplemented by market borrowings, if necessary. The work is likely to be implemented by inviting global tenders and is expected to be completed within two years after its award.