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.
As the Covid-19 situation continues to improve in India, the ministry of home affairs (MHA) has decided to continue the Guidelines for Reopening, which have already done away with nearly all of Lockdown restrictions in areas outside the containment zones. The MHA issued an order Monday and e
After a scare in September with the number of daily fresh cases inching above 90,000, India seems to have gone down the peak, with several key parameters giving cause for relief just in time for the annual festive season. The new confirmed cases in the 24 hours to Tuesday morning have fallen below 36,500 (
The annual festive season has brought good news for India: the country’s case fatality ratio has gone down to touch 1.5 percent, and the number of deaths per day has dipped below 500 in the 24 hours to Monday morning – bringing the situation closer to the number before the lockdown was imposed
Basking in the success of the new web series, ‘Scam 1992: The Harshad Mehta Story ’,on SonyLIV, the OTT platform from Sony stable where the lead actors are new faces, NP Singh, MD and CEO of Sony Pictures Networks, has said that the script is the new hero. He credited the s
India’s trend of steadily decreasing active cases continues unabated. The number of Active Cases has remained below 10% of the total cases for the last three days, suggesting only one in 10 cases is active Covid-19 patient. The active cases comprise merely 9.29% of the total positive c
The union cabinet chaired by prime minister Narendra Modi on Wednesday gave its approval to pay productivity linked bonus (PLB) for 2019-20 to 16.97 lakh non-gazetted employees of commercial establishments like Railways, Posts, Defence, EPFO, and ESIC, with a financial implication of Rs.2,791 crore.