In order to form a national grid connecting all ports, the government has decided to form a committee that will assess the development potential of around 150 non-major ports in the country and will subsequently link them with major ports. This interlinking will aid India’s growth in terms of its export- import (EXIM) cargo.
The Korean Exim Bank will fund the infrastructure for the much-awaited Visakhapatnam metro-rail project. Reportedly, the bank will support the state government’s share of 51 per cent of the infrastructure cost for the project, worth Rs 42 billion.
Karan Adani, CEO, Adani Ports and Special Economic Zone (APSEZ) is making headlines. APSEZ has signed a share purchase agreement with Larsen and Toubro to acquire 97 per cent stake in Marine Infrastructure Developers (MIDPL), the company which operated and developed Kattupalli Port near Chennai, for Rs 19.5 billion.
India's most ambitious infrastructure programme, the Delhi Mumbai Industrial Corridor (DMIC) has achieved another major milestone with its flagship project, Logistics Data Bank (LDB), conferred the ‘Best-In-Class Supply Chain Visibility’ award at the 11th Express, Logistics & Supply Chain Leadership Awards.
The Cabinet has cleared proposals for the development of Chabahar port in Iran through a $150 mn credit from Exim Bank. India will equip and operate two berths in Chabahar Port Phase-I with capital investment of $85.21 mn and annual revenue expenditure of $22.95 mn on a 10-year lease.
Rs 4 lakh crore spent in the past two and a half years towards building world-class highways and shipping infrastructure in the country, indicate reports. While the ministry has spent about Rs 3 lakh 17 thousand crore to build a total of 14,594 km and award 21,247 km of national highways, the shipping ministry has spent about Rs 80,000 crore for various projects aimed at modernising and mechanising the shipping sector and making it more efficient.