Posted on June 7, 2016
Union minister for shipping, road transport and highways Nitin Gadkari on Saturday, said 12 major ports and three flagship organizations –Cochin Shipyard , Dredging Corporation of India and Shipping Corporation of India – have posted a profit of up to 6,000 crore. Alongside, he announced his ministry’s plans to develop six new ports.
Speaking to reporters on the sidelines of the review meeting of ports and the three flagship institutions here, Gadkari said that this was the first time in the history of the country that all the institutions have shown profit, adding that the combined turnover of the ports and institutions stood at $4,000 crore (2.67 lakh crore).
“Next year I am expecting, at the very least, an additional 2,000 crore profit, which we will invest to modernize and mechanize our ports, for the Sagarmala project and inland waterways,” he said, explaining that modernization would see port-rail and port-road connectivity.
Pointing out that the world economy is in recession, and that even private ports in India were facing problems, Gadkari said, “In such a situation 6,000 crore in profit is a remarkable and historical contribution on the part of our department, ports and institutions.” This is the first time that the performance of the ports and institutions was audited.
The ministry is planning major port at Belekeri, Karwar and the Karanataka chief minister is very keen to develop it, he said.
“We plan to develop six major ports and we we will start work on three this year – one in Colachel, Tamil Nadu, one in Sagar island, West Bengal and one in Dahanu, Maharastra,” Gadkari said. The total investment involved will be over 15,000 crore in the first phase.
Source: The Times of India
