Sunday, Jun 26, 2005
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Staff Reporter
AGREEMENT REACHED: Union Minister for Shipping T.R. Baalu (centre), Chairman and Managing Director of Sethusamudram Corporation Limited N.K. Raghupathy, (left) and Chairman and Managing Director of Dredging Corporation of India Capt. N.K. Gupta share a lighter moment after signing a memorandum of understanding on the Sethusamudram Ship Channel project in Madurai on Saturday.
MADURAI: With a view to ensuring early completion of dredging work for the Sethusamudram Ship Channel Project, the Tuticorin Port Trust on Saturday allotted 13.57 km to the Dredging Corporation of India (DCI), before floating international competiive bidding (ICB) process. A memorandum of understanding was signed here by Captain N.K. Gupta, Chairman and Managing Director, DCI, and N.K. Raghupathy, Chairman of TPT/Chairman and Managing Director, Sethusamudram Corporation Limited, in the presence of Union Minister for Shipping T.R. Baalu. The work involves dredging of 12.56 million cubic metres of the total 77.62 million cubic metres. Mr. Baalu said the Union Government approved the award of work to the DCI on nomination basis at the prevailing market rates. The rates would be decided after the completion of the ICB, which would be floated on June 30. The DCI would deploy minor trailer suction hopper dredgers of 7,400 cubic metres capacity and 4,500 cubic metres capacity. Till the rates were fixed, the dredges would be made on ad hoc monthly payment of Rs. 7 crores and Rs. 4.5 crores respectively. Three institutes, including the Central Electrochemical Research Institute, Karaikudi and the Centre for Advanced Studies in Marine Biology, Parangipettai, would monitor marine pollution in the area.
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