In a move that will create one crore jobs in next five years, the government has lined up projects worth Rs 1.2 lakh crore for potential investors in the shipping and ports sector at the Maritime India Summit 2016 to be held in Mumbai from April 14th to 16th.
Speaking about this summit, the Union Minister of Shipping, Road Transport & Highways, Nitin Gadkari said on March 9th that his government has identified 40 lakh direct and 60 lakh indirect jobs to be created in 27 port based industrial clusters, coastal shipping and inland waterways under Sagarmala project.
— MaritimeIndiaSummit (@MISummit) March 9, 2016
Highlighting the growth potential of the maritime sector, Gadkari said that 15 projects with investment of Rs. 6879 crore are to be awarded before 31stMarch 2016 which include Goa conversion of iron ore berths to multipurpose berths in Mormugao Port(Rs. 1100 Cr), Ennore oil terminal (Rs. 700 Cr), Ennore capital dredging (Rs. 600 Cr) , Haldia floating POL facility (Rs.460 Cr), Mumbai FSRU (Rs. 2740). He said 32 projects with investment of Rs. 4351 crore and capacity of 70 MTPA have been completed in 2015-16 while 46 projects with investment of Rs. 28,040 crore with capacity of 307 MTPA are under implementation.
He informed that new ports have been announced at Wadhavan, Enayam (near Colachel) and Sagar with investment of Rs. 20,157 crore. In addition 27 projects with investment of Rs. 12,696 crore, adding capacity of 116 MTPA have been awarded in 2015-16 which include JNPT road connectivity (Rs.2,787 Cr) , Paradip mechanisation of coal berths (Rs. 1633 Cr) , Mumbai 5th oil berth (Rs. 811 Cr) , Kandla container terminal (Rs. 263 Cr) , Kolkata FSRU (Rs. 3500 Cr) , Ennore capital dredging (Rs. 425 Cr), Paradip LPG Terminal (Rs. 690 Cr) , New Mangalore mechanization (Rs. 470 Cr) , Goa dredging (Rs. 194 Cr).
The Minister further underlined that in order to improve manufacturing, there is need to increase exports.
While expressing concern over high cost of logistics in India which is currently about 18%, the Minister said that by developing coastal shipping and inland waterways, the transportation cost can be substantially reduced which will reduce logistics cost and make our products more cost effective.
Gadkari said he has also held a meeting with the Ambassadors of all maritime nations, seeking their active participation in the summit and urging them to spread work about the event in their respective nations. The Republic of Korea is participating in MIS 2016 as a partner country.
About the Maritime India Summit 2016 (To be held in Mumbai from April 14th to 16th)……This maiden flagship initiative of the Shipping Ministry aims to provide a unique platform for participants to explore potential business opportunities in the maritime sector.
It will showcase exciting investment opportunities in the sector including Shipbuilding, Ship Repair and Ship Recycling, Port Modernization and New Port Development, Port-based Industrial Development, Port-based Smart Cities and Maritime Cluster Development, Hinterland Connectivity Projects and Multi-Modal Logistics Hubs, Inland Waterways and Coastal Shipping for Cargo and Passenger movement, Dredging, Lighthouse Tourism and Cruise Shipping and Renewable Energy Projects in Ports.
An exhibition along with exclusive demo sessions will showcase the latest technology, products and services as well as help disseminate knowledge about the latest development in Maritime Sector.
The event will also provide a platform for leading global Maritime organisations to explore business opportunities and create awareness amongst stakeholders about the emerging trends and opportunities in the maritime sector. It is expected that a large number of foreign delegates especially from the maritime nations such as South Korea, Norway, Singapore, UAE, UK, France and EU will attend the summit.
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