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Galathea Bay Project: Bids for Galathea Bay project likely next year

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Bids for developing the first phase of the ₹44,000 crore Galathea bay project are likely to be invited early next year, an official statement has said.

The planned International Container Transhipment Port (ICTP) at Galathea Bay is part of the holistic development of Great Nicobar Island.

It is significant since nearly 75% of India’s transshipped cargo is handled at ports outside the country. Colombo, Singapore and Klang handle more than 85% of this cargo with 45% of it handled at Colombo Port alone. India is banking on the strategic location of Galathea Bay for export import trade as it lies on international shipping routes.

In a statement, issued Thursday, shipping minister Sarbananda Sonowal said the tender is being planned for early next year for the project that received environmental clearance in November last year. Stage 1 forest clearance has been received and in-principle nod for Detailed Project Report of the International Container Transhipment Port project is under finalization, the statement said.

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