Sagarmala Development Company

The 7,200 km INSTC project was conceived in 2002 to reduce the time and cost of moving cargo from India to Russia via Iran. More countries have now joined but the progress is very slow

Out of these projects, 36 projects have been completed which cost Rs 32,000 crore, whereas, 77 projects worth Rs 91,000 crore are under different stages of execution and development

More than 110 projects worth around Rs 1.1 lakh crore have been identified in Andhra Pradesh under Sagarmala, even as 35 works worth Rs 32,000 crore have already been completed, Union Minister of Ports and Shipping Sarbananda Sonowal said on Saturday here. Speaking at the Global Investors' Summit being held here, he said some of the projects are focused on roll on roll off (RORO), passenger jetty, fishing, port modernisation and skill development among others. According to the Minister, Visakhapatnam Port has exhibited a healthy cargo growth of over 7.5 per cent in 202223. "Following directions from the Ministry, the port is in the process of transforming as a landlord port. Other ports also may comply by 2023," said the Shipping Minister. He said six projects are operating in Visakhapatnam Port, awarded in January 2023 with an investment of Rs 658 crore. Further elaborating, Sonowal said the Ministry of Ports, Shipping, and Water in association with the Ministry of Fishing is ...

Shipping Minister Sonowal, Nitin Gadkari, Piyush Goyal, and Ashwini Vaishnaw to attend top maritime meet

BS ReporterHyderabad, 13 November: Krishnapatnam Railway Company Limited(KRCL) has received an investment of Rs 1.25 billion from Sagarmala Development Company Limited for the development of the rail corridor for Krishnapatnam Port in Andhra Pradesh.KRCL was formed as a joint venture company to develop 114-km rail corridor between Obulavaripalli in Kadapa district and Krishnapatnam with an estimated project cost of Rs 18.50 billion.This initiative will connect Krishnapatnam Port on the east coast with the network of Indian Railways at Venkatachalam at one point and Obulavaraipalli on the other. A 21 km section of the project line from Krishnapatnam to Venkatachalam is in operation since July 2009 in single line and was converted to double line from March 2014."This is an extremely exciting project for KRCL. The new rail corridor connecting Kadapa city with Krishnapatnam Port will help optimise costs, accelerate growth whilst enhancing the city's EXIM competitiveness,"said KRCL ...