India, Korea to sign pact for seafarers to work on Korean ships: Gadkari
The Dollar Business Bureau Union Minister of Shipping, Road Transport & Highways and Water Resources, River Development & Ganga Rejuvenation Nitin Gadkari said on Sunday that India and South Korea are set to strengthen their relations in the field of shipping and ports and will sign an agreement that will facilitate Indian seafarers to work on Korean ships. “The undertaking with the Republic of Korea for mutual recognition of Certificate of Competency (CoC) will be beneficial to both the countries as Korea is a large ship owning nation while India is a large seafaring nation with around 1,54,349 Indian seafarers,” the Minister said before leaving for Seoul. Gadkari will be on a four-day official visit to South Korea from April 9, 2018. “This agreement ...
Ports can act as catalyst for India to achieve 10% growth, Amitabh Kant
The Dollar Business Bureau Ports can act as a catalyst for India to achieve a consistent growth rate of 10% per cent, NITI Aayog CEO Amitabh Kant said. Addressing a workshop organised by the Ministry of Shipping under the Sagarmala programme on ‘Accelerating Sagarmala Implementation, Engaging with States’, Kant said that the Sagarmala programme is a game-changer. "Ports can act as the catalyst of growth and help in achieving 10 per cent consistent growth rate for the country, hence making Sagarmala programme the game-changer for the country’s development," Kant said. The main objective of the workshop was to enhance the engagement among the shipping ministry, other line ministries and various maritime states of India, an official statement said. Citing examples, he said success stories emerged ...
Major ports witness 5.1% growth during Apr-Sept 2016-17
The Dollar Business Bureau The measures taken by the government to improve the performance of ports are showing results as the key ports in India recorded a growth of 5.1% in handling cargo during the first six months of financial year 2016-17 as against the same period in the last fiscal. The cargo traffic handled by the major ports during the period April-September 2016-17 was 315.4 million tonnes compared to 299.5 million tonnes handled during the same period last year. “The major ports in India handled 315.4 million tonnes of cargo during the first six months of FY 2016-17 (April-September) and showed a positive growth of 5.1% as compared to the same period last year. The cargo traffic handled by the major ports ...
Govt approves Rs.515 crore grant for Sagar Port in WB
The Dollar Business Bureau The Central Government on Tuesday said it has given its nod for a grant of Rs.515 crore for the development of proposed project of Sagar Port in West Bengal. “The Central Government has given in-principle approval to a grant of Rs.515 crores to make the development of the proposed Sagar Port project in West Bengal financially viable,” Shipping Ministry released in a statement. For implementation of the project, a Special Purpose Vehicle (SPV), Bhor Sagar Port Limited (BSPL), has been integrated, with a majority of 74 percent equity being held by Kolkata Port Trust with the remaining 26 percent by the Government of West Bengal. A detailed project report (DPR) for the project will be prepared by IIT Madras, which ...
Gadkari lays foundation of multi-modal terminal in Varanasi
The Dollar Business Bureau Giving a renewed thrust to the government’s waterway-development agenda, Shipping Minister Nitin Gadkari on Friday laid the foundation stone for a Rs. 211-crore multi-modal terminal in Varanasi. "Multimodal hub here will take the state to growth trajectory. This hub with rail, road and waterways connectivity will change the face of UP," Shipping Minister Gadkari said at a function here. Gadkari said the government will build the phase 1 of the multi-modal terminal at a cost of Rs.211 crore. The project is expected to be ready by August 2018. The Phase-1 of the project covers the Varanasi - Haldia stretch. With the new terminal, a part of Rs.4,200-crore Jal Marg Vikas project, the government envisages to facilitate commercial navigation of vessels ...
Railway Ministry to take up port connectivity projects
The Dollar Business Bureau The Railway Ministry is planning to take up the 21 port-rail connectivity projects at an estimated cost of Rs 20,000 crore under the Sagarmala project with a view to strengthen the evacuation network and to boost the last-mile connectivity to the country’s ports. India Port Rail Corporation Ltd. has taken six additional projects. “The Ministry of Railways will be taking up 21 port-rail connectivity projects, at an estimated cost of more than Rs 20,000 crore, as identified under the port-connectivity enhancement objective of Sagarmala,” a statement from the Shipping Ministry said. For the quick evacuation of cargo, IPRCL has awarded three connectivity projects to Chennai and Visakhapatnam. There are another 19 projects in the pipeline. In April 2016, the government had ...
Projects worth Rs.1.2 cr to woo investors at Maritime India Summit
The Dollar Business Bureau In a move to enhance the existing potential of the Indian maritime industry, the Government of India aims to bring in more investment into the sector. And to achieve it, the Ministry of Shipping is gearing up for the upcoming Maritime India Summit 2016, where it intends to woo investors by presenting before them various shipping and port related projects. Speaking about the Summit, the Union Minister of Shpping, Nitin Gadkari said, “Projects in the ports and shipping sector, worth an investment of Rs.1,20,000 crore will be showcased before potential investors at the Maritime India Summit to be held in Mumbai from April 14-16, 2016.” The Minister said this in an address to the media on Thursday, ...
Major ports see Rs.3,456 cr operating profit this fiscal
A total cargo handling target of 644.35 MTPA has been set for 13 ports, including Kandla and Paradip, for the next financial year Source: PTI According to the Shipping Ministry, 70.56 MTPA has been added during 2015-16 up to February 15, 2016 Major state-owned ports recorded an operating profit of Rs.3,456.95 crore in the current fiscal up to January and several steps are being taken to modernise them, the government said on Thursday. Observing that modernisation and upgradation of ports was an ongoing process, Shipping Minister Nitin Gadkari told the Lok Sabha that a total cargo handling target of 644.35 MTPA (Million Metric Tonnes Per Annum) has been set for 13 ports, including Kandla and Paradip, for the next financial year. He said the ...
