Date:26/09/2005 URL: http://www.thehindubusinessline.com/2005/09/26/stories/2005092601481300.htm

Back Sethusamudram won't affect ecology, says DCI chief

Our Bureau

Visakhapatnam , Sept. 25

THE Sethusamudram project would not have any negative impact on the ecology of the region or fisheries.

There can be no room for any such fears, said Mr N.K Guptha, the Chairman and Managing Director of the Dredging Corporation of India.

He was addressing members of the Merchant Navy Officers' Association here on Saturday evening.

He said that the project would cut down the distance to Sri Lanka and result in boosting of trade.

It would have no adverse impact on fisheries or coral reefs or the Palk Straits.

The issue should be considered objectively, he pleaded.

The project will cost Rs 2,233 crore, of which Rs 1,700 crore will be spent on dredging alone.

The Tuticorin port is the nodal agency and the Visakhapatnam Port Trust is also one of the partners in the project.

The equity base is Rs 970 crore, of which the Union Government is contributing Rs 495 crore.