Minister Shri G.K. Vasan Advocates PPP Mode in Port Investement
Invest-Port Inaugurated The Union Shipping Minister, Shri G.K. Vasan has strongly advocated Public Private Partnership (PPP) mode in port investment opportunities in India. Inaugurating "Invest Port", a conclave on investment opportunities in India in New Delhi today, Shri Vasan said that the maritime sector plays a crucial role in facilitating India's international trade. Almost 95% by volume and 70 % by value of India's global merchandise trade is effected through the sea route.To ensure seamless passage of cargo both from and to the port through the hinterland, Shri Vasan said that it involved harmonisation of berth side development (including installation of cargo handling equipment) with marine side development (including enhancement in channel depths, where necessary). Optimum utilisation of the port facilities are required to be achieved through improvement in road and rail connectivity infrastructureRegarding the perspective plan prepared by the Shipping Ministry "Maritime Agenda 2020" Shri Vasan said that the Agenda encompasses development of the 12 major ports functioning under the Union Government and also the 176 notified non-major ports. The objectives of the Agenda inter alia includes creation of port capacity of around 3200 million MT to handle the expected traffic of about 2500 million MT by 2020. Shri ...
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