According to an official press release, the port also proposes to construct a multi-user jetty at an estimated cost of Rs 31 crore to cater to POL and other liquid cargo of other oil companies and parallel marketers. The construction of this jetty is being dovetailed with the new MRPL jetty and is expected to be ready within two years.

The MRPL jetty, which will cost Rs 236.50 crore, including capital interest of Rs 37 crore with a foreign expenditure component of Rs 3.50 crore, is being planned to meet the requirement arising out of the expansion of Mangalore Refinery and Petrochemical Ltd (MRPL) from 3 to 9 mtpa.

Earlier, the Cabinet Committee on Economic Affairs had approved the proposal for MRPL jetty on July 6. The jetty will be constructed by NMPT for the exclusive use of MRPL.For this purpose, NMPT will resort to market borrowings against financial guarantee from MRPL, apart from assuring revenue stream for the port.

The sanction order has asked the port authorities to complete the project within a period 30 months. The MRPL tanker jetty will have a handling capacity of 1,20,000 DWT with a length of 320 metre. The draught of the jetty will be 14 metre. The annual operation and maintenance cost will be Rs 15.9 crore on the jetty and revenue earnings will be Rs 52.3 crore with effect from 2002-03.