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Marg to develop fishing harbour
Staff Correspondent
CHENNAI: Marg, a diversified infrastructure development company, has decided to develop a fishing harbour on a public-private partnership model, at Rajakkamangalam Thurai in Kanyakumari district, Tamil Nadu.
Addressing a press conference here on Thursday, G. R. K. Reddy, Managing Director, said the company had planned to invest Rs. 45 crore in the project. It would generate direct employment for about 8,000 people when it becomes fully operational in October 2010. Mr. Reddy said the funding for the project would be done through a special purpose vehicle namely Rajakkamangalam Thurai Fishing Harbour Pvt. Ltd.
Profit sharing
Land would be provided by the State Government on 30-year lease. Mr. Reddy said the profit generated out of the fish catch would be shared between the Rajakkamangalam Thurai Fishing Harbour Trust and the company in the 51:49 ratio. The landing wharf would have mooring facility for 400 boats.
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