Govt Utilises State-Owned Ports for New Maritime Fund, Port Development
PORTS & SHIPPING

Govt Utilises State-Owned Ports for New Maritime Fund, Port Development

The Indian government is tapping into the financial resources of state-owned ports to spearhead the development of new ports and establish a dedicated maritime fund. This strategic initiative aims to bolster the country?s maritime infrastructure and enhance its port capacities.

In a recent move, the government has directed cash-rich state-owned ports to contribute to the creation of a maritime development fund. This fund will be utilised to finance the construction of new ports and upgrade existing facilities, ensuring that India?s port infrastructure keeps pace with the growing demands of international trade.

Union Minister of Ports, Shipping, and Waterways, Sarbananda Sonowal, emphasised the significance of this initiative in reinforcing India?s maritime capabilities. ?By leveraging the financial strength of our state-owned ports, we can expedite the development of new ports and modernise our existing infrastructure. This will significantly boost our capacity to handle increased cargo volumes and improve operational efficiencies,? he stated.

State-owned ports, including major players like the Jawaharlal Nehru Port Trust (JNPT) and the Deendayal Port Trust, have been identified as key contributors to this fund. These ports have consistently demonstrated robust financial performance, making them suitable candidates to support the government's ambitious infrastructure projects.

The establishment of the maritime fund is also expected to attract private investments and foster public-private partnerships in the port sector. By ensuring a steady flow of capital for port development projects, the government aims to create a more competitive and efficient maritime ecosystem.

Additionally, the development of new ports is seen as a critical step in decongesting existing ports and enhancing the overall capacity of the country's port network. New ports will be strategically located to cater to specific regional needs, thereby optimising cargo handling and reducing transit times.

This initiative aligns with the broader vision of the Sagarmala Programme, which seeks to promote port-led development in India. By integrating port development with hinterland connectivity and industrial growth, the government aims to transform India's coastline into a global manufacturing and logistics hub.

Industry experts have welcomed the move, noting that improved port infrastructure will enhance India's trade competitiveness and support economic growth. The focus on state-owned ports ensures that the development process is anchored by entities with proven operational expertise and financial stability.

As the government rolls out this initiative, it is poised to make significant strides in fortifying India?s maritime infrastructure, ensuring that the nation remains well-positioned to meet the demands of global trade and logistics.

The Indian government is tapping into the financial resources of state-owned ports to spearhead the development of new ports and establish a dedicated maritime fund. This strategic initiative aims to bolster the country?s maritime infrastructure and enhance its port capacities. In a recent move, the government has directed cash-rich state-owned ports to contribute to the creation of a maritime development fund. This fund will be utilised to finance the construction of new ports and upgrade existing facilities, ensuring that India?s port infrastructure keeps pace with the growing demands of international trade. Union Minister of Ports, Shipping, and Waterways, Sarbananda Sonowal, emphasised the significance of this initiative in reinforcing India?s maritime capabilities. ?By leveraging the financial strength of our state-owned ports, we can expedite the development of new ports and modernise our existing infrastructure. This will significantly boost our capacity to handle increased cargo volumes and improve operational efficiencies,? he stated. State-owned ports, including major players like the Jawaharlal Nehru Port Trust (JNPT) and the Deendayal Port Trust, have been identified as key contributors to this fund. These ports have consistently demonstrated robust financial performance, making them suitable candidates to support the government's ambitious infrastructure projects. The establishment of the maritime fund is also expected to attract private investments and foster public-private partnerships in the port sector. By ensuring a steady flow of capital for port development projects, the government aims to create a more competitive and efficient maritime ecosystem. Additionally, the development of new ports is seen as a critical step in decongesting existing ports and enhancing the overall capacity of the country's port network. New ports will be strategically located to cater to specific regional needs, thereby optimising cargo handling and reducing transit times. This initiative aligns with the broader vision of the Sagarmala Programme, which seeks to promote port-led development in India. By integrating port development with hinterland connectivity and industrial growth, the government aims to transform India's coastline into a global manufacturing and logistics hub. Industry experts have welcomed the move, noting that improved port infrastructure will enhance India's trade competitiveness and support economic growth. The focus on state-owned ports ensures that the development process is anchored by entities with proven operational expertise and financial stability. As the government rolls out this initiative, it is poised to make significant strides in fortifying India?s maritime infrastructure, ensuring that the nation remains well-positioned to meet the demands of global trade and logistics.

Next Story
Infrastructure Energy

South West Pinnacle Wins Rs 30 Cr Oman Mining Contract

South West Pinnacle Exploration Ltd has secured a Rs 30 crore contract from Minerals Development Oman (MDO) for mining exploration in concession areas 12B and 13.The two-year project will be carried out via Alara Resources LLC, a JV in Oman. MDO, backed by Oman’s investment authorities, focuses on monetising mineral wealth.The contract covers copper, gold, and chromite and highlights South West Pinnacle’s growing footprint in international exploration and mining services. ..

Next Story
Equipment

Godrej GEG Boosts Intralogistics with AI and Green Tech

Godrej Enterprises Group (GEG) is revolutionising warehouse and factory logistics through its Material Handling Equipment and Storage Solutions arms by integrating AI, IoT, and automation.With 20–25% market share and 85% local sourcing, GEG champions Atmanirbhar Bharat and sustainability. The Chennai plant, a green manufacturing leader, uses RoHS-compliant materials and has slashed energy consumption by 60%.GEG serves e-commerce, FMCG, retail, and cold chains with high-performance racking and electric forklifts. Upcoming IoT-enabled forklifts and telematics solutions aim to improve speed, sa..

Next Story
Infrastructure Urban

Amit Shah Inaugurates Key Projects Across Gujarat

Union Home Minister Amit Shah inaugurated and laid the foundation stone for various projects in Gujarat’s Panchmahal district and Ahmedabad.In Godhra, he inaugurated the Center of Excellence building, sports complex, reservoir, and Miyawaki plantation. In Ahmedabad, he unveiled a new cooperative complex in Adaroda village and a primary school in Juwal.These projects, under the Model Co-op Village scheme, aim to boost education, sustainability, and rural development across the state. ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?