India's first urban yacht marina project, along with a residential area, will come up in Howrah on the banks of the Hooghly river.
A marina is a sheltered harbor area where private yachts and boats can be parked on the water with fuel lines, fresh water supplies and shore power for the boats.
"Marina Grand is an urban yacht marina project on the banks of Hooghly river on Howrah side, very close to the main city centre of Kolkata. It will also have residential area connected to the Marina. Such integrated project is the first so far," Marina Infra Projects managing director Samir Prasad said.
The project report is being finalised and the project will be launched in mid-2016. The company has already procured land for it, he said.
The project is in two parts -- the marina and a 6 lakh sq ft of residential development along with a highly privileged yacht club.
Prasad said the marina project, including the real estate development, will cost around Rs 250 crore. There will be berthing capability of upto 50 yachts and some inventory may cost about Rs 100 crore.
Asked whether the project can run into hurdles after the one at Goa got into rough weather, Prasad said, "This project, being on Hooghly river, does not fall under Coastal Regulation Zone, so it is not proper to compare it with the Goa project."
He said there have been presentations before both the state government and the Centre (Shipping Ministry) and they have shown keen interest.
At least two other marina projects are proposed on government land in Mumbai -- on Victoria docks of JNPT and at Alibag.
Tender for Alibag marina has been floated but bidders have complained about the location being considered, Prasad said. Marina Infra is one of the bidders for the project.
The project report is being finalised and will be launched in mid-2016.