The Union Cabinet chaired by Prime Minister Narendra Modi on 14 October 2015 gave its approval for the Revised Cost Estimate (RCE) of 2904.04 crores rupees for the Kaladan Multi Modal Transit Transport Project in Myanmar.
Since the project is of political and strategic significance, it was decided to execute it through India's grant assistance to Myanmar.
The project will provide an alternate access route to the North-Eastern region of India and contribute towards the region's economic development. Being a key connectivity project, it will promote economic, commercial and strategic links between India and Myanmar.
Kaladan Multi Modal Transit Transport Project
The Kaladan Multi Modal Transit Transport Project was jointly identified by India and Myanmar to create a multi-modal mode of transport for shipment of cargo from the eastern ports of India to Myanmar as well as to the North-Eastern part of India through Myanmar.
Highlights of the project
• The project will connect Sittwe Port in Myanmar to the India-Myanmar border
• It is expected that the project will contribute to the economic development of the North-Eastern States of India, by opening up the sea route for the products.
• It will provide a strategic link to the North-East and will help in reducing pressure on the Siliguri Corridor.
• It will serve the economic, commercial and strategic interests of India.
• It will contribute to the development of Myanmar, and its economic integration with India.
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When: 14 October 2015