Govt plans to set up five new major ports – Feedback

The government is planning to develop five new major ports to improve trade and transport along the 7,500-km coastline, Union shipping minister Nitin Gadkari said on Wednesday.

India currently has 12 major ports and three more are being developed, one each in Maharashtra, West Bengal and Tamil Nadu. The total cost of the three upcoming ports is about Rs 25,000 crore. “We will give more details about the five planned ports over the next three days,” said Gadkari. He was speaking in here ahead of the three-day Maritime India Summit 2016, starting on Thursday. The event is expected to see signing of deals worth Rs 82,900 crore. It will comprise 86 memoranda of understanding (MoUs) worth Rs 68,700 crore and 35 concession orders worth Rs 5,900 crore. About 3,000 delegates are expected at the event which will also have 12 Cabinet ministers, along with chief ministers of Maharashtra, Andhra Pradesh, Gujarat and Goa.

http://www.business-standard.com/article/economy-policy/govt-plans-to-set-up-five-new-major-ports-116041300867_1.html

About news

We take care of publishing the latest investment news and highlights for Feedback

Leave a Reply

Your email address will not be published. Required fields are marked *