Shipping ministry to soon meet port capacity target of FY14

The Ministry of Shipping, which is looking to increase the capacity of major ports by 250 million tonnes in this financial year, has already awarded 102 million tonnes capacity in April-December and will be awarding the balance in the next three months, Shipping Secretary Vishwapati Trivedi said on Sunday.

He was speaking on the sidelines of the Eleventh Annual Conference on Ports in India held here.

“Of the total 30 projects that were to be awarded in this financial year, 20 projects worth Rs 6,000 crore have already been awarded until December and the balance will be awarded in these three months,” he said.

The fourth terminal of Jawaharlal Nehru Port Trust (JNPT), which is a part of the 10 projects to be awarded, alone will bring in 64 million tonnes, Trivedi said.

“Bids for JNPT’s fourth container terminal will be opened in February and award will happen before March,” said Trivedi.

JNPT is setting up a Rs 7,000-crore fourth container terminal.

Pertaining to Dredging Corp which is looking to meet its fund shortfall, the secretary said the company is looking to borrow over Rs 1,000 crore from banks or cash surplus ports like JNPT and Kandla.