21 Sagarmala projects
Railways Ministry will implement 21 port-rail connectivity projects, worth more than Rs20,000 crores, under the Sagarmala programme of the Shipping Ministry for promoting port-led development in India.
In addition, another six projects are being considered by the Indian Port Rail Corporation Limited (IPRCL).
IPRCL, incorporated by Shipping Ministry, has already awarded three projects for Vishakhapatnam and Chennai ports for quick evacuation of cargo. Another 19 projects are in the pipeline.
More than 150 projects have been identified, involving investment of over Rs4 lac crore over a period of 10 years. These projects are expected to generate annual logistics cost savings of close to Rs35,000 crore and provide boost to India’s merchandise exports by $110 billion by 2025.
Sagarmala has 4 major objectives: i) Port Modernization & New Port Development; ii) Port Connectivity Enhancement; iii) Port-led Industrialization and iv) Coastal Community Development. fii-news.com
