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Modi inaugurates Maritime India Summit 2016

Friday, 15 Apr 2016
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Inaugurating the Maritime India Summit which is being held from 14 to 16 April 2016, PM Modi stated that the government wants to promote port-led development and energise coastal economy with an intent to modernise ports and integrate them with special economic zones, port-based smart cities, industrial parks, warehosuses, logistic parks, cold storage and transport corridors.

The Centre has drawn an ambitious plan to double port capacity to 3,000 million tonne per annum in next ten years, opening up an investment opportunity of Rs 1 lakh crore.

The National Perspective Programme for Sagarmala was launched in Mumbai by PM Modi on 14 April 2016.

Union Minister of Shipping, Nitin Gadkari, during the Maritime India Summit announced to complete the Sagarmala port development project in five years.

The government plans to invest Rs 12 lakh crore under various programmes of the project.

Under the port modernisation drive, 53 projects are expected to be undertaken to ensure the port handling capacity is increased by 1,000 mln tpa. This includes six new mega port projects.

The projects under this sub-category are expected to come at an investment of USD 15 billion.

In the connectivity category, USD 30 billion investment is projected for 10,000 km of new connectivity infrastructure projects as well as seven new dry ports. Under port-led industrialisation, 27 industrial clusters will be developed by investing USD 15 billion.

The Minister also spoke about 12 proposed industrial clusters which would entail an investment of Rs 85,000-90,000 crore in land and an additional Rs 12,000-15,000 crore in basic infrastructure and 14 coastal economic zones in Gujarat, Maharashtra, Karnataka, Kerala, Tamil Nadu, Andhra Pradesh, Odisha and West Bengal.

Further the Defence Ministry plans to award projects worth Rs 50,000 crore to the Shipping Ministry, which would rope in private players for some projects through Cochin Shipyard.

Defence Ministry will sign an MoU with the Ministry of Shipping to ensure that the orders which are there with the Defence Ministry could be shared comfortably with the private shipyards through Ministry of Shipping.
 
The Shipping Ministry is collecting all orders from Government of India which includes order for nine LNG ships worth Rs 18,000 crore and private sector will be roped in for the some of these.

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