PM invites global firms, says Rs 6L cr being invested in ports

TRIBUNE NEWS SERVICE

NEW DELHI, MARCH 2

Prime Minister Narendra Modi today said the Ministry of Port, Shipping and Waterways had created a list of 400 investable projects with an investment potential of $31 billion (Rs 2.25 lakh crore).

“This will further strengthen our commitment to the overall development of our maritime sector,” the PM said while inaugurating the Maritime India Summit 2021.

He said in 2016, the government had identified 574 projects at a cost of $82 billion (Rs 6 lakh crore) for implementation during 2015 to 2035 under the Sagarmala project for promoting port-led development.

The PM did not state how many projects had already been implemented and how many were under development. But as a result of the government’s efforts, the capacity of major ports has already increased to 1,550 million tonnes per annum (mtpa) now from 870 mtpa in 2014 and mega ports with world-class infrastructure are being developed at Vadhavan, Paradip and Kandla, he said.

“Ours is a government that is investing in waterways in a way that was never seen before,” he said. The aim is to operationalise 23 waterways by 2030 through several ways. The Eastern Waterways Connectivity Transport Grid for regional connectivity with Bangladesh, Nepal, Bhutan and Myanmar will also be strengthened for effective regional trade and cooperation.

To ensure that work relating to the maritime sector does not happen in silos, the government made the ambit wider by renaming the Ministry of Shipping as Ministry of Ports, Shipping and Waterways.