Centre To Sign Pacts Worth Over Rs.72,000 cr At Shipping

Central government is expected to sign agreements worth over Rs. 72,000 crore with private players on port-related projects at the Indian Maritime Summit to be held in Mumbai.

The Shipping  Ministry has identified 109 projects worth Rs.72,864 crore on which agreements will be signed during the event to be held from April 14-16.According to Road Transport, Highways and Shipping Minister Nitin Gadkari South Korea will be the partner country for the Summit. Prime Minister Narendra Modi will inaugurate the summit on April 14.

Sagarmala Project:  
  • To promote port-led direct and indirect development and to provide infrastructure to transport goods to and from ports quickly, efficiently and cost-effectively. 
  • Supporting and enabling Port-led Development through appropriate policy and institutional interventions.
  • Port Infrastructure enhancement, including modernization and setting up of new ports.
  • Efficient Evacuation to and from hinterland.

Extra info:

  • More than 150 projects will be showcased for investment under the Sagarmala Project for port modernisation.
  • Mr. Gadkari said the government will award tenders for 15 projects worth Rs. 6,700 crore before March 31 in addition to the ongoing projects.
So lets do:
  • Who is Union minister of Road Transport, Highways and Shipping?
  • What you understand bu Sagarmala Project?

Source – The Hindu


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