Kulai Harbor Development Project Starts Soon
- Business & Finance
The development works on the Kulai fishing harbor in Mangaluru are expected to begin soon, The Times of India informs.
The project, to be executed by the New Mangalore Port Trust (NMPT), has already received 5 bids for the construction of the breakwaters, as a beginning of the harbor construction scheme.
According to the latest reports, the tender for the project is expected to be finalized in the following weeks.
The entire project is expected to be completed by 3 years and the construction of the breakwaters has the deadline of 18 months.
Estimated cost of the project is Rs 196 crore ($27.5 million). 50% of the cost of the project will be borne by the Ministry of Shipping, while NMPT and the state government will bear a cost of 45% and 5% respectively.