Panaji, Aug 13 (IANS): Goa could have two marinas soon with parking bays for over 200 yachts, Industries Minister Mahadev Naik said on Thursday.

Naik said the Investment Promotion Board of Goa had granted in-principle clearance to the two marina projects in North Goa and South Goa districts.

"An in-principle approval granted under the Goa Investment Promotion Act, 2014 so as to enable the project proposal to undertake a comprehensive environmental impact assessment and to approach all the competent authority to obtain all the requisite permissions as required under the law," Naik said on Thursday, during the ongoing monsoon session of the Goa assembly.

Naik said the marina proposals have been promoted by two private agencies, Kargwal Construction based in Mumbai and Goa-based Yacht Heaven, adding that the proposed investment for the two projects was around Rs.700 crore and the employment potential was around 450 people.

The two marinas are expected to come up along Zuari river in Sancoale village, 30 km from Panaji, spread over 1.55 lakh square metres and in Nauxi village, also along Zuari river, spread over a similar acreage.

The two projects for yacht anchoring, yacht repairs and other hospitality facilities are being proposed on a public-private partnership basis.