Nutrient Based Subsidy Policy extended to coastal shipping of fertilizers
The Dollar Business Bureau The coastal shipping and inland water transportation have extended the policy for reimbursement of freight for movement of phosphatic and potassic (P&K) fertilizers under the Nutrient Based Subsidy (NBS) Policy. It was only the movement of fertilizer by rail from the plant or the port to rake points in various districts that were included in the subsidy but will now also apply to the movement of fertilizers through coastal shipping and inland waterways. The move will help in promoting transportation of fertilizers through coastal shipping under the Ministry of Shipping’s flagship programme Sagarmala. The move has been taken after a study concluded that a total opportunity for coastal movement of fertilizers is 9-10 MTPA by 2025 which can lead to ...
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 to construct modern fish market at Visakhapatnam Port
The Dollar Business Bureau The government has decided to develop a modern marine fish market at Vizag at a cost of Rs.2.75 crore. The market will be constructed at the Fishing Harbour, near to Visakhapatnam Port and will become operational in early 2017. The Andhra Pradesh government has issued 30 percent of the funds from its special development funds, National Fisheries Development Board (NFDB) has contributed 40 percent and 30 percent funds were contributed by Tata Trust for constructing the fish market. The Visakhapatnam Fishing Harbour has been handling sea food exports of around 1.15 lakh tonnes. However, the current fish market, built decades ago, was not properly developed. It is proposed by the government to reconstruct the complete market with modern amenities in an ...
Belgium offers expertise to Indian ports to improve waterways
The Dollar Business Bureau Belgium’s Antwerp Port Authority has said that it can offer its expertise to Indian ports to improve their internal waterways. “In India, the ports are not well-connected to the hinterland by inland waterways. In this area, we can offer consultancy services to Indian ports," said Luc Arnouts, Chief Commercial Officer of Antwerp Port Authority, while addressing a press conference on Wednesday in Visakhapatnam. The Ambassador of Belgium to India, Jan Luykx, was also present at the event. “In the area of improving inland waterways, Antwerp Port Authority has gained huge expertise. Antwerp port receives over 30 percent of the cargoes through such type of waterways, where the cost of logistics is cheap,” he added. Arnouts said that a delegation, headed by Ambassador ...
World-class naval facility to come up in Vizag
Reliance Group Chairman Anil Ambani announced the setting up of a naval facility at Rambilli, Vishakhapatnam, with an initial investment of Rs.5000 crore The Dollar Business Bureau The new facility would complement the companys existing plant at Pipavav in Gujarat, with a clear focus on building strategic assets for the Indian Navy. Expanding its existing business, Reliance Group has signed an agreement with the Andhra Pradesh government for the setting up a world-class naval facility at Rambilli along the east coast, 70 kms south of Vishakhapatnam. Reliance Group Chairman Anil Ambani announced the new venture on Sunday while addressing the ongoing two-day investor summit in Vishakapatnam. At an initial investment outlay of Rs.5,000 crore, it will represent the single largest investment at one location ...
