The Hindu : National : Funds for ports and tonnage acquisition

Online edition of India's National Newspaper
Saturday, Dec 31, 2005

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National

Funds for ports and tonnage acquisition

Special Correspondent

Need is to expand capacity, modernise infrastructure: Baalu

NEW DELHI: The Government on Friday announced a National Maritime Development Programme (NMDP) that will facilitate more focussed and accelerated investment in specific infrastructure, tonnage acquisition and institutionalise capacity building for various ongoing projects.

According to the NMDP, an investment of Rs. 100,399 crore would be made for port development and tonnage acquisition. The Government has set an ambitious target of $150 billion for exports by 2008-09 to nearly double India's share in world exports from 0.8 per cent to 1.5 per cent.

"Indian maritime sector, which provides for transportation of export cargo with ports providing the platform for about 95 per cent of global Indian merchandise trade by volume and 70 per cent by value, therefore, needs to expand its capacity and modernise its infrastructure," Shipping Minister T. R. Baalu told a media meet on the occasion of release of the NMDP document containing investment projections at Rs. 100,399 crore.

In the face of the rising cargo traffic, it is projected that by 2011-12 the country's ports should be capable of handling 800 million tonnes.

Mumbai port would get two offshore container berths with an estimated investment of Rs.1,165 crore.

Like Mumbai, the Chennai Port will also get a second container terminal at a cost of Rs. 495 crore. A container terminal at Ennore Port will be constructed at a cost of Rs.1000 crore.

The Cochin and Jawaharlal Nehru Port would get Rs. 2,972 crore and Rs. 2,525 crore respectively.

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