Friday, April 11, 2008

India’s port capacities to be 1500 Mt by 2011-12

by Jo Black

Indian federal government has decided to hike cargo handling capacities of major and non-major ports to 1500 million tones by 2011-12 with public-private investment of Rs.1000 billion ($26.3 billion).

Disclosing this at ASSOCHAM-EXIM organized International Conference `CONQUEST 2008’, Secretary Indian Ministry of Shipping, Mr. A.P.V.N. Sarma also unveiled that capacities of major ports would be increased to 1000 million tones and those of non-major ports to 500 million tones.

The private-public investment of Rs.550 billion ($14.4 billion) would be required for capacities enhancement of major ports and Rs.450 billion ($11.8 billion) for non-major ports. In 2006-07, ports both major and non-major have handled export-import cargos to an extent of 520 million tonne and the Ministry of Shipping in consultation with the Planning Commission has already decided to take it up to around 1500 million tonne by terminal year of 11th five year plan, said Mr. Sarma.

The public private investment of Rs.1000 billion ($26.3 billion) would be channelised through National Maritime Board (NMB), said Secretary Shipping.

Mr. Sarma said that since 100% FDIs are permitted both at ports and shipping sector, the Ministry of Shipping has already received a good deal of FDIs proposals to upgrade and modernize existing ports but refused to disclose names of companies that intend to help government in its attempt to hike cargo capacities of its ports.

Mr. Sarma said that traffic has been increasing at a rapid speed at various ports and it would be the attempt of the Ministry to bridge the gap between bureaucracy and industry so that a large number of private sector participation is sought in ports capacities increasement.

The government, according to the Secretary Shipping would take all possible steps to avoid those irritants that increase transaction costs so that it is brought down substantially to help India compete at least on export front.

 

 

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