 "Maritime India Summit attracts Rs 82,905 cr investment")
The first ever Maritime India Summit, held in Mumbai from April 14-16, 2016, has resulted in attracting investments worth Rs 82,905 crores, according to the Ministry of Shipping. A total of 141 MoUs and business agreements were signed by various players in maritime sector including major ports, state maritime boards and PSUs like Shipping Corporation of India (SCI), Cochin Shipyard Limited, Inland Waterways Authority of India etc.
One significant MOU signed relates to establishment of a greenfield port at Vadhavan, Maharashtra. Phase I of the project is estimated to cost around Rs 9167 crores. Shareholders’ agreement for the project was signed between JNPT and Maharashtra Maritime Board. Once completed the new port will allow large size ships to enter Indian waters and will also help decongest JNPT and Mumbai Port.
To give boost to inland water transport, Government of Andhra Pradesh entered into an MoU with Inland Waterways Authority of India for development of National Waterway 4 at estimated cost of around Rs 3000 crores. Once developed, this waterway will help take off roads significant portion of cargo traffic.
Petronet LNG has signed a MoU with Inland Waterways Authority of India to facilitate greater use of LNG in inland water transport thereby reducing carbon footprint. Cochin Shipyard Limited has entered into an agreement with Samsung Heavy Industries to formalise technical cooperation for building LNG ships in India. This will also be first of kind in the country.
Adani group has announced plans to invest around Rs 28000 crore over next five years in various projects in Odisha and Gujarat. JSW Group owned by Jindals has also proposed to invest around Rs 10,000 crore over a span of 5 years.
Visakhapatnam Port Trust signed an MoU with HPCL who plan to increase the capacity of Visakha Refinery from 7.50 million metric tonne (MMT) to 15 MMT at an estimated cost of Rs 18412 crore. Shipping Corporation of India also signed a slew of agreements to enhance shipping capacity both inland as well international.
One significant MOU signed relates to establishment of a greenfield port at Vadhavan, Maharashtra. Phase I of the project is estimated to cost around Rs 9167 crores. Shareholders’ agreement for the project was signed between JNPT and Maharashtra Maritime Board. Once completed the new port will allow large size ships to enter Indian waters and will also help decongest JNPT and Mumbai Port.
To give boost to inland water transport, Government of Andhra Pradesh entered into an MoU with Inland Waterways Authority of India for development of National Waterway 4 at estimated cost of around Rs 3000 crores. Once developed, this waterway will help take off roads significant portion of cargo traffic.
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Gujarat Maritime Board (GMB) entered into an MoU with Shapoorji Pallonji Company for development of a new LNG terminal costing around Rs 5,411 crore at Chara. GMB will also ink an MoU with IL&FS for setting up a Maritime Services Cluster at GIFT City, Gandhinagar.
Petronet LNG has signed a MoU with Inland Waterways Authority of India to facilitate greater use of LNG in inland water transport thereby reducing carbon footprint. Cochin Shipyard Limited has entered into an agreement with Samsung Heavy Industries to formalise technical cooperation for building LNG ships in India. This will also be first of kind in the country.
Adani group has announced plans to invest around Rs 28000 crore over next five years in various projects in Odisha and Gujarat. JSW Group owned by Jindals has also proposed to invest around Rs 10,000 crore over a span of 5 years.
Visakhapatnam Port Trust signed an MoU with HPCL who plan to increase the capacity of Visakha Refinery from 7.50 million metric tonne (MMT) to 15 MMT at an estimated cost of Rs 18412 crore. Shipping Corporation of India also signed a slew of agreements to enhance shipping capacity both inland as well international.