Sagarmala Project to create 10 million jobs: Nitin Gadkari

The project to boost coastal shipping to 400 million tons per annum

geetanjali

Geetanjali Minhas | April 15, 2016 | Mumbai


#Nitin Gadkari   #Road Transport   #Shipping  

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.

 

Comments

 

Other News

SAIL to leverage domestic growth potential

Steel authority of India (SAIL) chairman PK Singh expressed confidence on improving the performance of the Maharatna PSU in the current fiscal because of a host of initiatives in almost every area of operations. During 45th annual general meeting of the company, Singh said the world steel as

TRIFED to scale up marketing of tribal products

Ministry of tribal affairs’ PSU— tribal cooperative marketing development federation of India limited (TRIFED) is contemplating to scale up marketing of tribal products through increase at its retail outlets throughout the country. TRIFED plans to scale up the retail marketing ac

Facebook and post-truth

It is not very often that Facebook advertises in newspapers. Last time it did was a year ago when it was promoting `free basics`— a limited internet service provided for free to subscribers of partnering telecom service providers. The internet platform’s reach is unparalleled vis-a-vis to tradi

IOCL pays VAT of Rs 2,935 cr to Odisha

In the resolution of the issue of VAT deferment for Indian Oil Corporation’s (IOCL) Paradip refinery in Odisha, IOCL has made VAT payment of Rs 2,935 crore to Odisha government. The refinery had commenced commercial operations in November 2015. The recent meeting between Odisha Chief M

Muddy makeover of the Taj

Patch by patch, the lucent dome of the Taj Mahal is being plastered with a mixture of Fuller’s earth. It’s a treatment other parts of the monument of love – minarets, walls and pathways – have received over the years. These mud packs, of two millimetre thickness, are believed to tak

NALCO aims at making country country self-reliant in strategic minerals

In its bid to make the country self-reliant in the areas of 12 strategic minerals that are either not available in India or not available adequately, National Aluminium Company (NALCO), HCL and Mineral Exploration Corporation Limited (MECL), the CPSEs of ministry of mines have inked an agreement.



Video

PM Modi in varanasi

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter