Union Cabinet gives agrees to RCE for Kaladan Multi Modal Project in Myanmar [ Current Affairs ]
The union cabinet on Wednesday approved the revised cost estimate for a multi - modal transit transport project. It will pass through Myanmar and will provide an substitute access route to India’s northeastern states.
- Its approval for the revised cost estimate of Rs. 2, 904.04 crore (about Rs. 29 billion) is given by Narendra Modi.
About the project:
- It will provide an alternate access route to the northeastern region of India.
- It contributes towards the region’s economic development.
- It will encourage economic, commercial and strategic links between India and Myanmar.
- It was jointly identified by India and Myanmar to create a multi - modal mode of transport for shipment of cargo.
- It will first link the Kolkata port to the port of Sittwe in Myanmar across the Bay of Bengal, a distance of 539 km.
- Published on: October 16, 2015