Essar Projects India (EPIL), a leading engineering procurement and construction (EPC) company, has completed and commissioned 10 projects worth Rs 2,862 crore in FY2016-17. Some of these projects are of national importance and make significant contribution to India’s infrastructure growth. The company has posted revenues of about Rs 2,000 crore in FY2017.
With the focus on promoting port-led-development in India, Rs 600 crore has been allocated for the Sagarmala programme in 2017-18. The flagship programme of the Ministry of Shipping, it encompasses capacity expansion and modernisation of ports along India’s coastline, enhancement of port connectivity to the hinterland, port led-industrialisation to promote trade, and sustainable development of coastal communities.
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.
The Ministry of Shipping is planning to develop Paradip as a world-class, globally competitive, smart industrial Port City. The rationale behind developing Paradip as a smart city is that Paradip already has a major port and strong mineral resource presence in the region, which will factor to make Paradip a hub for MSMEs.