New integrated transport policy to develop multi-modal logistics parks
The Dollar Business Bureau The government's magnified focus on improving transportation and logistics infrastructure in the country is evident from the increased budgetary allocation to the sector. In Budget 2017, the Finance Minister announced a kitty of Rs. 2.41 lakh crore for transportation related projects. Another fund of Rs. 64,900 crore was earmarked for construction of highways this fiscal, 12% up from last year's allocation. The Metro Rail Act, meant to achieve dual objectives of boosting private participation and providing better urban connectivity was also a much-welcomed step. The talk about state-of-the-art multi-modal logistics parks is also seen taking shape as the Narendra Modi-led government shares details of another grand scheme in-the-making, intended to enhance connectivity via various modes of ...
IKEA seeks 450 acres at Kandla port cluster
The Dollar Business Bureau IKEA the Swedish furniture maker has expressed interest in India’s burgeoning infrastructural growth. The company has shown interest in a planned cluster at Kandla Port and wants to be allotted 450 acres in it. This was revealed to the media by Nitin Gadkari, Minister for Road Transport and Highways and Shipping. Speaking at the launch of a report by TCI-IIM Calcutta on freight transportation by road in India, the Minister said that the company has planned clusters for furniture production at the Kandla port and seeks 450 acres of land near the port. Gadkari said that the furniture maker would give technology, expertise and know-how to the proposed cluster and also purchase the finished products. “IKEA is ready ...
India to develop a port in Iran
The Dollar Business Bureau Nitin Gadkari, Minister for Shipping and Road Transport & Highways and Dr Abbas Ahmad Akhoundi, Minister for Transport and Urban Development of the Islamic Republic of Iran signed an inter-Governmental MoU on Wednesday, regarding India’s participation in the development of the Chabahar Port in Iran, reported a release by the Ministry of External Affairs, Government of India. With the signing of this MoU, Indian and Iranian commercial entities would now be in a position to commence negotiations towards finalization of a commercial contract under which Indian firms will lease two existing berths at the Port and operationalize them as container and multi-purpose cargo terminals. The availability of a functional container and multipurpose cargo terminal at ...
