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.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

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.

Next Story
Infrastructure Energy

SCCL Mines Win 5-Star National Awards for Excellence

Singareni Collieries Company Limited (SCCL) has been awarded 5-Star ratings at the national level for four of its coal mines for the last financial year, recognising the company’s excellence in sustainable mining, safety, and operational practices.The honoured mines include:RG OC-1 Extension from the Ramagundam-3 AreaJK-5 OC from the Yellandu AreaRK-6 Underground Mine and RK-Newtech Mine from the Srirampur AreaThese awards were presented during the 5-Star Rating Awards Ceremony held in Mumbai, where SCCL Chairman and Managing Director N. Balram received the accolades from Union Minister for ..

Next Story
Infrastructure Urban

JFSL Gets Rs 3.96 Billion from Promoters for Expansion

Jio Financial Services Ltd (JFSL) announced on Wednesday that promoter group companies have infused Rs 3.96 billion into the firm to support its expansion plans. The company’s board allotted 500 million convertible warrants at Rs 316.50 per warrant to Sikka Ports & Terminals Ltd and Jamnagar Utilities & Power Private Ltd, both part of the promoter group.Each entity has received 250 million warrants, and the total amount received—Rs 3,956.25 crore (Rs 39.56 billion)—represents 25 per cent of the total warrant issue price, in accordance with regulatory norms.This development is par..

Next Story
Infrastructure Urban

RBI to Withdraw Rs 1.5 Trillion via 8-Day VRRR Auction

The Reserve Bank of India (RBI) has announced an eight-day Variable Rate Reverse Repo (VRRR) auction to be held on Thursday, with the objective of withdrawing Rs 1.5 trillion from the banking system. This move comes amid a significant liquidity surplus, which stood at Rs 3.03 trillion as of Tuesday, according to the central bank’s latest data.VRRR operations are a key liquidity management tool used by the RBI to absorb excess cash from the financial system and align short-term interest rates with the policy repo rate. By conducting such auctions, the RBI aims to maintain monetary stability a..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?