Home Energy News Port & Dam News Port-led projects to see Rs12 lakh crore development plans in the coming...

    Port-led projects to see Rs12 lakh crore development plans in the coming years

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    Port-led
    Image caption: Small port project Image source: Rendel Rendel

    Port-led development projects worth Rs 12 lakh crore will be awarded in the coming years, shipping and road transport minister, Nitin Gadkari said. He said projects worth Rs 1 lakh crore under Sagarmala programme are already in various stages of implementation.   His ministry plans to undertake construction of four new major ports, 200 small and minor ports and more than 2,000 water ports under the programme.   To undertake the ambitious Sagarmala programme, the shipping ministry has set up Sagarmala Development Company (SDC). The company will identify port-led development projects and provide equity support for Special Purpose Vehicles (SPVs) set up by ports, states and central ministries.   The company will help in structuring activities, bidding out projects for private sector participation and identifying suitable risk management measures for strategic projects across multiple states.  SDC would act as the nodal agency for coordination and monitoring of all the currently identified projects under Sagarmala as well as other projects emerging from the master plans or other sources.  It would also undertake the preparation of detailed master plans for Coastal Economic Zones identified as part of the National Perspective Plan. SDC would raise funds as per project requirements by leveraging resources provided by the government and from multilateral and bilateral agencies. It would also aim to increase the scope of private sector participation in project development.

    Source: economictimes.indiatimes.com

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