Union Cabinet gives nod to RCE for Kaladan Multi Modal Project in Myanmar
The Union Cabinet has given its approval for the Revised Cost Estimate (RCE) of 2904.04 crore rupees for the Kaladan Multi Modal Transit Transport Project in Myanmar.
Decision in this regard was taken by Union Cabinet meeting chaired by the Prime Minister Narendra Modi in New Delhi.
About Kaladan Multi Modal Transit Transport Project
- Objective: To create a multi-modal mode of transport for cargo shipment from the eastern ports of India to Myanmar. It will provide an alternate access route to India’s north east region and contribute towards the regional economic development.
- The strategic link will promote economic, commercial and strategic links between India and Myanmar as it will connect North-East, thereby reducing pressure on the Siliguri Corridor.
- This project will connect Sittwe Port in Myanmar to the India-Myanmar border via roadway. Thus it will provide alternative cost effective shortcut to landlocked north eastern states.
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Month: Current Affairs - October, 2015