The tenders have been invited by the state government's Trade and Commerce department. Pre-qualified parties will be invited to submit technical and financial bids for the estimated Rs 76 crore project, which is now likely to be largely a private sector enterprise. The state government has also called for consultants to prepare the techno-economic feasibility studies at an estimated cost of Rs 1 crore.

``We will finalise a consultant by the end of this month,'' K Nalinakshan, Principal Secretary Urban Development and chairperson of the state government's high level committee for the project told Express Newsline.

The consultant would submit the report within six months, after which the private company could start dredging.

Affirming that the project was on the state government's list of fast trackprojects, Nalinakshan said it would be completed by the end of next year.

The project involves dredging the area where the ship will be grouted, providing connection to the shoreway on a roadway built on piles and subsequent land development of some area near the causeway to provide additional space for public facility. The project feasibility report is being prepared and shall be made available to the shortlisted entrepreneurs before submission of the bid.

The Ministry of Defence, which owns the decommissioned aircraft carrier, has last indicated already indicated that it would gift the ship to the state government if it was converted into a museum. This knocks off Rs 18 crore from project costs.

Besides converting the ship into a museum, the proposal also envisages commercial use of various compartments, spaces for exhibitions, seminars, shows and official functions. The helipad on the deck of the ship will be utilised for operating commercial helicopter services.