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

BMC commissioner Chahal conferred with hon. doctorate

BMC commissioner and administrator Iqbal Singh Chahal has been conferred with a Honorary Doctor of Science Degree (honoris causa) by Guru Nanak Dev University in Amritsar, Punjab. Chahal was conferred the degree during the 48th convocation of the University in Amritsar at the hands of Punjab

Sebi to have two-track approach on ESG

Securities and Exchange Board of India (Sebi) aims to use a two-track approach on environmental social and corporate governance (ESG). Addressing a conference on ‘ESG for Atmanirbhar Bharat` in Mumbai, Sebi chairperson Madhabi Puri Buch said that that there should not be a single carbo

Accuracy more important than speed in news: Anurag Thakur

Presenting authentic information is the prime responsibility of media and that facts should be properly checked before they are put in the public domain, union minister of information and broadcasting Anurag Thakur has said. “While speed with which the information is transmitted is imp

FM concludes pre-budget consultations

Union minister for finance and corporate affairs Nirmala Sitharaman has concluded the pre-budget consultation meetings for Budget 2023-24 that were held from November 21 to 28 in the virtual mode. More than 110 invitees representing seven stakeholder groups participated in eight meetings sch

Coal production rises by 18% to 448 MT

The total coal production in the country stands at 448 million tonnes (MT) for the month of October 2022 which is 18% higher than the production of the corresponding period of last year. The growth of coal production from Coal India Ltd (CIL) is also more than 17%. The ministry of coal said

How to execute large-scale social impact projects

The number of social innovators and entrepreneurs has considerably increased recently in India. The idea of social entrepreneurship, which aspires to provide novel solutions for the world`s most critical social issues, is now receiving more attention. Challenges like overworked healthcare,

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter