Sagarmala project to transform logistics sector, says steel minister -Governance Now

Sagarmala project to transform logistics sector, says steel minister

India could aspire for 25-30% of steel capacity to be at the coasts by 2025, says Singh

GN Bureau | November 8, 2017

#PSU #RINL #Sagarmala project #Birender Singh #transportation

Steel minister Chaudhury Birender Singh has said the Sagarmala project would transform the logistics sector and change the lives of people living along the 7,500 km-long coastline in the country.

Singh flagged off the maiden coastal shipment of Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Vizag Steel at the Visakhapatnam Port.

He said to make the requirement of steel exports, India could aspire for 25-30 percent of steel capacity to be at the coasts by 2025. “At present the logistic cost in India is amongst the highest in the world. But Sagarmala programme has the potential to unlock full potential of India’s coast line and waterways and make logistics sector competitive with the world standards,” he pointed out.

He lauded RINL for foraying into sea trade to strengthen its relationship with coastal transportation for domestic requirements and said the enterprise should take advantage of its location for import of raw materials like coking coal and export of finished products.

He said coastal shipping has inherent advantages over land modes of transport and is environmentally friendly, energy efficient and relatively safe.

Coastal shipping is cheaper than road or railways by 60-80 percent and reduces the burden on rail and road transport. The minister observed that an overall cost saving of around Rs 40,000 crore per annum is estimated from this project by 2025.

Comments

Other News

`Development must be judged beyond GDP, with rights and justice at core`

Delivering the IXth Chief Justice M.C. Chagla Memorial Lecture on ‘Human Rights and Sustainable Development Goals’, in Mumbai Friday, former Chief Justice of India Bhushan R. Gavai questioned whether conventional economic indicators such as gross domestic product (GDP), national income,

RTI exposes Rs 16,909 crore cost blowout on Mumbai-Goa Highway

Seventeen years after the centre first approved the widening of National Highway 66 between Mumbai and Goa into a four-lane highway, a fresh RTI reply has revealed a sharp escalation in the project`s sanctioned cost. According to the RTI reply obtained by activist Jeetendra

"India`s semiconductor ecosystem is expanding rapidly"

Prime minister Narendra Modi on Thursday inaugurated SEMICON India 2026 in New Delhi. Addressing the occasion and highlighting the significance of the event`s fifth edition, the PM drew a parallel between the launch of Semicon India and Vishwakarma Diwas. He pointed out the beautiful coincidence of

Cabinet approves raising EPFO wage ceiling from Rs.15,000 p.m. to Rs.25,000

The union cabinet, chaired by the prime minister, has approved the proposal of the Ministry of Labour & Employment to enhance the wage ceiling for mandatory coverage under the Employees’ Provident Fund Organisation (EPFO) from Rs.15,000 to Rs.25,000 per month. The decision is expected to bring

UPI continues to remain free for peer-to-peer transactions: Finance Ministry

The new UPI framework introduced has no impact on any person to person transactions, and UPI will continue to remain completely free for all person-to-person transactions, irrespective of the amount transferred, the finance ministry clarified on Tuesday. Payments to merchan

SEMICON India 2026 and the making of a chip powerhouse

On Thursday, prime minister Narendra Modi will inaugurate SEMICON India 2026 at Yashobhoomi in Dwarka, New Delhi. Global chipmakers, policymakers and investors will fill the halls, all watching an industry India has built from the ground up. For three days, the country`s semi-con (semiconductor) manufact