Union Minister Nitin Gadkari said today that an investment of Rs 60,000 crore will be made in the port sector by May 26 this year.
Union Minister Nitin Gadkari said today that an investment of Rs 60,000 crore will be made in the port sector by May 26 this year. He added that investments worth Rs 2 lakh crore were also expected in the Maritime India Summit to be held in Mumbai from April 14 to 16.
India is also set to double its ports capacity to 3000 million tonnes (MT) by 2025, Gandkari said.
The capacity of ports stood at 1,500 MT in 2015.
“We will double the capacity of our ports to 3000 MTPA by 2025,” the Road, Transport and Shipping Minister said while addressing the media at Foreign Correspondents Club here.
Gadkari said the first ever Maritime India Summit 2016 is scheduled to be inaugurated by Prime Minister Narendra Modi in Mumbai on April 14 is in pursuance of the Governments policy of giving prime importance to developing the countries infrastructure .
The objective of the three-day Summit from 14th to 16th April 2016 is to attract potential investors to the vast opportunities that the various components of the Maritime Sector have on offer, he said.
Forty countries in addition to India and Korea, which is the partner country, will participate in the Summit.
A Special Ship Museum is being created at the venue by famous art director Nitin Desai. This museum has depiction of India’s glorious maritime history and heritage.