International Container Transhipment Port (ICTP)
Context:
Recently, the Union Minister conducts a progress review of the proposed International Container Transhipment Port (ICTP).
Relevance:
GS – 03 (Infrastructure, Inclusive Growth)
Main Highlights:
- The International Container Transhipment Port (ICTP) is a forthcoming port situated at Galathea Bay, Great Nicobar Island.
- As an integral part of the comprehensive development plan for Great Nicobar Island, the Ministry of Ports, Shipping, and Waterways is overseeing its development.
- The holistic approach to Great Nicobar Island’s development is geared towards enhancing economic opportunities, accommodating vessels of all sizes, ranging from feeders to large intercontinental carriers, and addressing the island’s infrastructural needs.
- With an estimated investment of Rs 41,000 crore (USD 5 Billion), the transhipment project is under the implementation of the Kolkata-based Syama Prasad Mookerjee Port.
Significance of the Project:
- Strategically positioned, the ICTP holds proximity advantages, being just 40 nautical miles from the Malacca Strait, a crucial international trade route with existing transhipment terminals like Singapore, Klang, and Colombo.
- Benefiting from a natural water depth exceeding 20 meters, the ICTP has the potential to attract transhipment cargo from nearby ports, both domestic and international.
- The project addresses revenue loss issues, reduces logistical inefficiencies, and positions itself to become a significant hub for Asia-Africa and Asia-US/Europe container traffic trade.
- Currently, approximately 75 percent of the nation’s transhipped cargo is handled at ports outside the country. The ICTP has the potential to save USD 200-220 million annually on transhipment cargo.
