Sagarmala drives port expansion
India is projected to reach 1,784 million metric tonnes (MMT by) 2024 supported by increasing government initiatives to enhance capacity and utilization of the country’s major and minor ports, according to a research report.
The ports infrastructure market stood at more than 1,212 MMT in 2018, said the report by the Dublin-based ResearchAndMarkets.com.
It cited the government’s Sagarmala Initiative initiated in 2015 to address the challenges and to grab the growth opportunities through port infrastructure development.
The major objective of this initiative is to ensure optimum utilization of the existing port assets and infrastructure, to enhance the capacity of ports in order to attract more trade through seaports, and to improve the transportation connectivity including road, rail, inland waterways, sea and air.
In addition, development of around 14 coastal economic zones (CEZs) is underway, which is further expected to aid growth of India ports infrastructure market during forecast period, added the report.
Moreover, rising focus of the country’s private ports on technological advancements such as International Container Transshipment Terminal and Kochi installing the drive through container scanner facility in December 2018, would further steer growth in the market during the forecast period.
The report list some of the players in the ports:
Adani Ports and Special Economic Zone Limited (APSEZ)
Essar Ports Limited
Krishnapatnam Port Company Limited (KPCL)
Gujarat Pipavav Port Limited (GPPL)
Gateway Terminals India Private Limited (GTI)
Shipping Corporation of India Limited
DP World Private Limited
Karaikal Port Private Limited
The Great Eastern Shipping Company Limited
Shreyas Shipping and Logistic Ltd.
-/fiinews.com
