+
Centre to fund nearly 30% of national green shipping ventures
PORTS & SHIPPING

Centre to fund nearly 30% of national green shipping ventures

In a bid to expedite the green transition of Indian shipping, the Ministry of Ports, Shipping, and Waterways (MoPSW) announced that it planned to contribute approximately one-third of the financial backing for green shipping projects in the country.

According to the shipbuilding scheme initiated by the government, the ministry currently provides 20 percent of the funds for all vessels constructed by the industry, with a yearly reduction of 3 percent. However, in a move to encourage the development of vessels powered by alternative fuels, the ministry intends to increase its financial support to 30 percent of the project cost for green shipping.

The ministry stated, "The main objective is to inform the shipbuilding industry about the prioritisation of green ships."

As the announcement is recent, we only have a general idea of the policy. They are yet to finalise the complete policy, including aspects such as yearly reduction and the types of fuels covered.

At present, the green funding policy would solely apply to vessels and not encompass associated infrastructure.

It remains uncertain whether a new fund will be established for this scheme or if the ministry will utilise the remaining funds from the existing Rs 40 billion shipbuilding assistance scheme.

This decision was made during MoPSW's annual chintan shivir, presided over by Union Minister Sarbananda Sonowal. With this initiative, the ministry aspires to kick-start India's shipbuilding industry.

Also read:
Machilipatnam port to be revived after 200 years
JSW Infra to boost container capacity at New Mangalore Port


In a bid to expedite the green transition of Indian shipping, the Ministry of Ports, Shipping, and Waterways (MoPSW) announced that it planned to contribute approximately one-third of the financial backing for green shipping projects in the country. According to the shipbuilding scheme initiated by the government, the ministry currently provides 20 percent of the funds for all vessels constructed by the industry, with a yearly reduction of 3 percent. However, in a move to encourage the development of vessels powered by alternative fuels, the ministry intends to increase its financial support to 30 percent of the project cost for green shipping. The ministry stated, The main objective is to inform the shipbuilding industry about the prioritisation of green ships. As the announcement is recent, we only have a general idea of the policy. They are yet to finalise the complete policy, including aspects such as yearly reduction and the types of fuels covered. At present, the green funding policy would solely apply to vessels and not encompass associated infrastructure. It remains uncertain whether a new fund will be established for this scheme or if the ministry will utilise the remaining funds from the existing Rs 40 billion shipbuilding assistance scheme. This decision was made during MoPSW's annual chintan shivir, presided over by Union Minister Sarbananda Sonowal. With this initiative, the ministry aspires to kick-start India's shipbuilding industry. Also read: Machilipatnam port to be revived after 200 years JSW Infra to boost container capacity at New Mangalore Port

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Infrastructure Opportunity Outlook by IMPACCT.Info

India’s infrastructure pipeline is witnessing dynamic activity across stages — from immediate bidding to future planning. IMPACCT segments these into three categories: Immediate, 3–6 Month, and Future Opportunities, enabling businesses to identify, prepare, and participate in high-value tenders and projects across sectors.To read full article Click Here ..

Next Story
Real Estate

Glass, Reframed!

Glass façades, quintessential aesthetic building envelopes globally, have been widely adopted in India as well. But when the focus is high-performance building systems that deliver energy efficiency, comfort and architectural identity, glass isn’t the only preference. Combination solutions, involving glass and some other material, improve façade outcomes. Some combinations come at comparable prices, some at a higher price. Here is a selection of performance-oriented solutions...To read the full story Click Here ..

Next Story
Infrastructure Urban

Beyond Building Faster

India’s cities are expanding at an unprecedented pace, bringing new infrastructure and development opportunities while also intensifying challenges around mobility, public spaces, liveability and supporting infrastructure. The question, therefore, is not simply whether India can build faster, but whether it can build cities that work better.At a CW webinar, Are We Designing Better Cities – or Just Building Faster?, moderator Ar. Samir Shaikh, Founding Principal, AR&UD Studio, brought together perspectives from design, development, master planning and technology...To read the full artic..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code