metric tonnes and lighter. Most new ships weighing more than 60,000 tonnes and tankers weighing above 150,000 tonnes cannot use this canal. Costs of project Axis Bank Ltd. was appointed "loan arranger" for the project in 2005.Since its inception in 2004, costs have risen to at least , interest rates have risen and old loan terms have lapsed. The loan sanctions, valid only up to , lapsed. To secure more money, Sethusamudram Corp. Ltd would have to draw up new reports, sit with parliamentary committees and receive fresh approval. The project cost which originally were will grow by almost , a shipping ministry source said. Environmental impact The project would disturb the ecological balance and destroy corals and kill marine life. The area is an important fishing ground for Tamil Nadu and the Gulf of Mannar Marine National Park is in the vicinity of the proposed project. Opposition to the canal's planned route has come from local fishermen who are demanding alternative channels, which are available. They say the planned route would destroy marine life and corals and would impact the trade in conch shells that is worth almost a year. Deposits of thorium, important for nuclear fuel requirements, would also be affected. Opponents also say that the dumping of dredged material from the Palk Strait and the Gulf of Mannar in deeper waters would "endanger those areas, which are rich reserves containing 400 endangered species, including whales, sea turtles, dugongs and dolphins". Tsunami expert Professor Tad Murtywho advised the Government of India on the tsunami warning systemhas said that the planned route may result in increased impact from tsunami waves. He wrote, "During the Indian Ocean tsunami of 26 December 2004, the southern part of Kerala was generally spared from a major tsunami, mainly because the tsunami waves from Sumatra region travelling south of the Sri Lankan island, partially diffracted northward and affected the central part of the Kerala coast. Since the tsunami is a long gravity wave (similar to tides and storm surges) during the diffraction process, the rather wide turn it has to take spared the south Kerala coast. On the other hand, deepening the Sethu Canal might provide a more direct route for the tsunami and this could impact south Kerala." On 21 April 2010, the Supreme Court of India decided to delay the project until an Environmental impact analysis on the feasibility of a route