Port sector awaits Rs.50, 000cr via ECBs

    A pact for External Commercial Borrowings (ECB) by Jawaharlal Nehru Port (JNPT) with SBI and Singapore's DBS, for $400 million (Rs.2, 600 crore) loan, has paved way for other major ports besides Shipping Corporation, Dredging Corporation, and Cochin Shipyard to take the same route, Shipping and Road Transport and Highways Minister said. The sector can generate a whopping amount of Rs. 50,000 crore in US dollars as loans. ECB in ports will increase capital in infrastructure sector. JNPT has paved way for country’s ports and shipping entities to take loans in dollar term at a very low interest rate which in turn would enhance the viability of projects.
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