Govt to spend Rs 70,000 crore on 12 major ports under Sagarmala project: Gadkari

06 Oct 2015 Evaluate

Union Minister Nitin Gadkari after chairing the first National Sagarmala Apex Committee (NSAC) meeting has said that the government is planning to spend Rs 70,000 crore in coming years on 12 major ports under sagarmala project which aims to develop port infrastructure along the country’s 7,500 km coastline.

Most of this investment is expected to be made by government. However some projects, including development of islands and tourism facilities, would be taken up in public-private partnership (PPP) mode. The government aims to develop 30 projects in the current fiscal at a cost of Rs 14,226 crore. The projects mainly include increasing the capacity of existing major ports and adding new ports. The government is eyeing Rs 4,500 profit from the two ports Kandla and Paradip this fiscal which are being developed into Green smart cities.

The project aims to achieve port-led development by focusing on port and islands modernisation and capacity augmentation, efficient and speedy evacuation. It would create huge employment besides boosting the country’s GDP. Ports will play huge role in meeting double digit GDP target and port, shipping and highways sector will very soon add 2 per cent to the country's GDP.

Further, the new sites which are identified to be converted into ports are Sagar Island (West Bengal), Vadhavan (Maharashtra), Colachel (Tamil Nadu) and Tadadi (Karnataka). Establishment of Indian Port Rail Corporation has also been done under Sagarmala project. The government could save around Rs 40,000 crore every year in logistics costs and time reduction for key cargo movement when Sagarmala is fully developed. Gadkari further said that the government also aims to promote tourism and fishery under Sagarmala.

Besides, the government will set up 14 coastal economic zones and a special economic zone at Jawaharlal Nehru Port Trust (JNPT) in Mumbai under the initiative which also includes connecting ports with inland waterways. At Navi Mumbai Special Economic Zone, there are investment proposals for Rs 4,000 crore, which will provide employment to 1.5 lakh youth. Free trade warehousing zones will be set up in Cochin and Ennore. The government will also set up eight automobile industrial zones at ports to recycle vehicles that are more than 10 years old.

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