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Nitin Gadkari expects ports to chip in around Rs 7,000 cr in profit

Gadkari said there has been a 2.8% increase in the 12 state-run ports' efficiencies

Press Trust of India  |  Mumbai 

Nitin Gadkari
Nitin Gadkari

Union Minister said on Friday major are witnessing an improvement in efficiencies and he expects up to 40 per cent jump in their to Rs 7,000 crore this year.

"This year, I am hoping we will make a profit of Rs 6,000-7,000 crore," he said while speaking at state-run ship building and repair company Cochin Shipyard's listing.

Of this, the minister said he expects up to Rs 2,000 crore from the largest container port, Jawaharlal Nehru Port Trust (JNPT), alone.

Gadkari said there has been a 2.8 per cent increase in the 12 state-run ports' efficiencies compared to their private sector rivals.

The minister said the major ports' are steadily growing ever since the government took office in May 2014.

The reported of Rs 3,000 crore in FY15, Rs 4,000 crore in FY16 and Rs 5,000 crore in FY17.

The minister said as soon as the government came to power, it appointed an international consultant to recommend measures to make the of global standard.

The consultant came up with 120 suggestions, of which 90 have been implemented, he added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Fri, August 11 2017. 22:56 IST
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