The project to boost coastal shipping to 400 million tons per annum
Geetanjali Minhas | April 15, 2016 | Mumbai
Union Minister for road transport and highways and shipping, Nitin Gadkari has claimed that Sagarmala Port Project, which will get completed in 5 years, will add to industrial growth and create many new jobs.
Speaking at the Maritime Summit in Mumbai on Thursday, the minister said work with an estimate of 50 billion US $ investment is in progress.
“Coastal shipping will increase from 80 million tons annually to 400 million tons annually by 2035. Sagarmala will create 10 million jobs. Cargo will grow 12.5 times from 972 million tons per year to 2500 million tons per year by 2020. Port capacity will be doubled up from 1500 million tons per annum to 3000 million tons per annum.
Sagarmala National Perspective Plan launched by prime minister Narendra Modi will boost India’s 7500 km long coastline and 111 waterways. It is an amalgamation of 150 projects categorised into port modernisation, connectivity, port led industrialisation, and coastal community development. The government plans investments of Rs 12 lakh crore into various programmes.
Outlining figures, Gadkari said that Port led industrialisation is rupees one lakh crore infrastructure investment. Rs 4 lakh crores will be spent on infrastructure and Rs 8 lakh crore on industrial and marine cluster investment i.e., power and steel manufacturing.
For port connectivity, 30 billion US dollar investment is expected and reduced logistics cost will compete with international market leading to increase in exports and generation of jobs. Coastal Community Development, will have an investment of 5 million US dolllar.
Gadkari said that 14 zonal economic zones have been identified in energy, cement and steel sector. The clusters will boost India’s export by 110 billion US dollar.
At one time these pale rooms of the Delhi commission for women looked like sleepy corners of officialdom; they are now best described as a bustling sarkari office. The woman who transformed this moribund organisation hardly looks like a powerful leader. Dressed in casual blue jeans and loose deni
Tata Trusts and People For Animals (PFA) announced their collaboration to build a state-of-the-art, multi-specialty veterinary hospital and emergency clinic at Navi Mumbai to serve the needs of all domestic and farm animals at affordable rates. The hospital will be built in Kala
A long queue of women, infants in their arms, extends outside the immunisation room at the community health centre (CHC) in Bhangel village, Noida, a pink double-storey building beside a bustling market. Unmindful of the chit-chatting and baby babble, Mariamma Samuel, an auxiliary nurse-cum-midwi
Do you think fugitive industrialist Vijay Mallya will be extradited from Britain to India?
Before privatisation and corporatisation, the Indian Railways need to undertake major reforms including commercial accounting, decentralisation and human resource among others, said Bibek Debroy, economist and member, NITI Aayog at Railways Reforms and Governance Conclave organised by Governance Now on Fri
NTPC Ltd has raised Rs 2,000 crore through green masala bonds in overseas market under its $4 billion medium term note programme, union minister Piyush Goyal informed the Lok Sabha. The proceeds of these bonds will be used for financing renewable energy projects in accordance with applicable