Mangaluru: The first phase of development works of 320 kilometer long coastal area of Karnataka state under Karnataka Sustainable Coastal Protection and Management Investment Programme (KSCPMIP) will be completed by May 2017 at a cost of Rs 223.32 crore, said Karnataka State Minister for PWD, Port and Inland Water Transport Dr HC Mahadevappa after making a review on the development works being completed at old port in Mangaluru city on Tuesday.
The programme is being implemented at a cost of Rs 911 core which is expected to be completed by 2020 with financial support of Asian Development Bank (ADB). Karnataka state government sanctions 15% fund of estimated cost of the development works under KSCPMIP whereas ADB sanctions 85% fund of the total expenditure of the project. Union government provides its guarantee to the project.
Speaking on the development of ports in Karnataka, the minister said that he has asked the chief minister to allocate Rs 500 to Rs 600 crore to the port department in the upcoming state budget for the year 2017-18 to develop ports in the state further.