The deep sea trans-shipment port proposed to be developed at Colachel in Tamil Nadu will entail a cost of Rs 27,570 crore, Parliament was informed today. The aim is to develop a deep sea trans-shipment port at Colachel (Enayam) is very close to the great East-West Shipping route," Minister of State for Shipping P Radhakrishnan said in a written reply in the Lok Sabha. "As per the techno economic feasibility report (TEFR), the estimated project cost is Rs 27,570 crore. The port is proposed to be developed through investment by government and public-private partnership (PPP) mode." The development of the new major port at Enayam near Colachel will cover 2017-30, the minister said. In a separate query, Radhakrishnan said Sagarmala is a long-term programme, which was approved by the Cabinet on March 25, 2015. The programme involves drawing up a National Perspective Plan (NPP) for port modernisation and new port development, port connectivity enhancement, port-led industrial development and coastal community development, he added. To exploit the potential of India's around 7,500-km long coastline and 14,500 km of potentially navigable waterways, the Sagarmala programme aims to promote port-led development. Sagarmala will entail an estimated infrastructure investment of more than Rs 2 lakh crore. As part of NPP, a total 173 projects have been initially identified across the programme objectives, which will result in significant investment in maritime infrastructure, create employment, reduce logistics costs and boost merchandise exports over the next decade. "A projection has been made that identified industrial cluster projects once implemented will enable creation of approximately 1 crore new jobs, including 40 lakh direct and 60 lakh indirect jobs in the next 10 years," he said.