Centre to invest Rs 1 lakh crore in ports, shipping sectors
23 Dec 2006
Kochi: The centre is planning to make a landmark investment of Rs1 lakh crore in the port and shipping sector in the country in the coming years. The investments will be made through the public-private partnership route.
According to the union minister of shipping, road transport and highways T R Baalu, two-thirds of the investment will be from the private sector and one third from the public sector.
Baalu said the government hopes to increase port capacity, upgrade cargo-handling system and deepen channels to receive third generation vessels. He said the government expects the port capacity to touch 1,300 million tonnes by 2011-12 and 2000 million tonnes by 2016-17.
The investment will be for 276 projects in the port sector and 11 projects in the shipping sector identified by the government. Of the total investment, Rs60,000 crore has been earmarked till 2011-12 and the rest till 2020.
Other recommendations include the training fishermen in fisheries training institutes, as well as aiding their recruitment in coastal vessels of the merchant navy. The centre will provide Rs10 crore towards this purpose and would issue an order to this effect by January 31, 2007.
The minister also said that the government had decided to conduct a feasibility study for the development of a deep-sea port off the coast of West Bengal. Expressions of interest for its development have already been received and the total investment is expected to be in the region of Rs7000 crore.