The New Mangalore Port Authority exchanged seven MoUs worth ₹8,347 crore at the Global Maritime India Summit 2023 held between October 17 and October 19 in Mumbai.
These MoUs will pave the way for further development and expansion of the port and its associated infrastructure, said a release from NMPA. On the first day, NMPA exchanged two MoUs with Mangalore Refinery and Petrochemicals Ltd. of ₹5,000 crore for Port Based Infrastructure for Business Development ₹1,500 crore for Desalination Plant (Augmentation and New Capacities).
On the second day, four MoUs of total amount of ₹1,800 crore were exchanged with various stakeholders like HPCL, IOCL, Karnataka Maritime Board and Sealord Containers Ltd. under Port Led Industrialisation. On the last day, Thursday, one MOU was exchanged with PHPC for setting and installing Tank farms/Storage Infrastructure for total amount of ₹47 crore.
The summit, which brought together industry leaders, policymakers, and stakeholders from the maritime and shipping sectors, provided a platform for discussions on the latest trends, challenges, and opportunities within the industry. NMPA’s involvement was instrumental in fostering dialogue on strategies to accelerate the growth of India’s maritime trade.
NMPA Chairman A.V. Ramana said, “We are thrilled to have played a significant role in GMIS 2023. The success of this summit is a testament to the growing potential of India’s maritime industry. NMPA is committed to furthering its contribution to the sector, and these MOUs are a step in the right direction.”
