PM Modi announces Rs 230 billion in maritime projects
ECONOMY & POLICY

PM Modi announces Rs 230 billion in maritime projects

Prime Minister Narendra Modi announced the long-term strategy for the blue economy and launched maritime projects worth Rs 230 billion. According to a formal release, the strategy highlights strategic measures targeted at boosting sustainable practises, improving port infrastructure, and streamlining international cooperation.

During the third Global Maritime India Summit, he also dedicated, inaugurated, and laid the cornerstone for projects totaling more than Rs 230 billion that are in line with the "Amrit Kaal Vision 2047" for the Indian maritime blue economy.

Future ports, decarbonisation, coastal shipping, inland water transportation, shipbuilding, repair and recycling, finance, maritime clusters, and maritime tourism are just a few of the important topics that will be covered during the summit. At Gujarat's Deendayal Port Authority, the Prime Minister lay the cornerstone for the construction of the Tuna-Tekra all-weather deep-draft port, which is expected to cost more than Rs 450 billion.

Public-private partnerships (PPPs) will be used to create this new terminal. The port, which is projected to become a major international trade hub, will handle new ships larger than 18,000 twenty-foot equivalent units (TEUs) and serve as a hub for trade between India and the Middle East and Europe (IMEEC).

Additionally, the prime minister committed more than 300 Memorandums of Understanding (MoUs) for national and international cooperation in the maritime industry, totalling more than Rs 7.16 trillion.

Prime Minister Narendra Modi announced the long-term strategy for the blue economy and launched maritime projects worth Rs 230 billion. According to a formal release, the strategy highlights strategic measures targeted at boosting sustainable practises, improving port infrastructure, and streamlining international cooperation. During the third Global Maritime India Summit, he also dedicated, inaugurated, and laid the cornerstone for projects totaling more than Rs 230 billion that are in line with the Amrit Kaal Vision 2047 for the Indian maritime blue economy. Future ports, decarbonisation, coastal shipping, inland water transportation, shipbuilding, repair and recycling, finance, maritime clusters, and maritime tourism are just a few of the important topics that will be covered during the summit. At Gujarat's Deendayal Port Authority, the Prime Minister lay the cornerstone for the construction of the Tuna-Tekra all-weather deep-draft port, which is expected to cost more than Rs 450 billion. Public-private partnerships (PPPs) will be used to create this new terminal. The port, which is projected to become a major international trade hub, will handle new ships larger than 18,000 twenty-foot equivalent units (TEUs) and serve as a hub for trade between India and the Middle East and Europe (IMEEC). Additionally, the prime minister committed more than 300 Memorandums of Understanding (MoUs) for national and international cooperation in the maritime industry, totalling more than Rs 7.16 trillion.

Related Stories

Gold Stories

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement