India's government progresses in the construction of the proposed International Container Transshipment Port (ICTP) at Galathea Bay, Great Nicobar Island. The estimated $5 billion project is a significant part of India's Amrit Kaal Vision 2047, aimed at fostering maritime development. The ICTP's strategic location, proximity to the Colombo-Singapore route, and natural water depth make it a key initiative. Despite concerns about environmental impact, the Ministry of Finance's "In-Principle" approval sets the stage for tenders, with the terminal expected to handle 16 million TEUs annually at full capacity by 2058.

SOURCE: GOOGLE