Sagarmala gets ₹20,000-cr projects under PPP model
The Centre has decided to implement 20 projects worth ₹20,000 crore in the Sagarmala segment under PPP. The projects will include development of jetties and mechanized handling of coal. The focus will be on improving the efficiency of the existing major ports as about 95 percent of the trade across borders is currently being carried out through shipping. While the major ports are equipped to handle the current capacities, the government is working on improving efficiency in handling liquid cargo (crude oil, petroleum products, naphtha and LNG0 which clocked an increase of only 1.12 percent in the April-June quarter. The Sagarmala program's focus is on improving port capacity, connectivity and encouraging industrialization near major ports. The project requires ₹4 lakh crore infrastructure investment while the 2019 budgetary allocation for Sagarmala is only ₹550 crore. To bridge the gap, the Centre is looking at private investment to fund these projects. The budgetary allocation is utilized for developing small projects such as fishing harbors, coastal berths for movement of domestic cargo through inland waterways, and training of manpower in the port sector.
📅Published on:
05 August 2019
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