You are here: Home » Economy & Policy » News
Business Standard

Sagarmala Apex Panel to meet Friday: Monetisation, new projects on agenda

Shipping Minister Sonowal, Nitin Gadkari, Piyush Goyal, and Ashwini Vaishnaw to attend top maritime meet

Topics
Sagarmala Development Company | Shipping industry | major ports in India

Dhruvaksh Saha  |  New Delhi 

trade, export, container, major ports, import, shipping, sea, business, seafarer, merchan navy
Representative image

The central government will hold the National Sagarmala Apex Committee (NSAC) meeting on Friday to discuss various policy measures for development of ports and related infrastructure under the Sagarmala programme.

The apex committee, which was formed in 2015, will meet with Shipping Minister Sarbananda Sonowal, Road Transport and Highways Minister Nitin Gadkari, Commerce Minister Piyush Goyal, Railways Minister Ashwini Vaishnaw, Civil Aviation Minister Jyotiraditya Scindia in attendance, among others.

"The committee shall review the Sagarmala program along with review of development of port linked Road and Rail connectivity project, development of Floating jetties and Inland waterways besides other agenda items," the ministry of ports, shipping and waterways said.

Sagarmala is the government's overarching project for maritime development, aimed at enhancing infrastructure and capacity in and around India's major ports. Currently, there are over 800 projects worth Rs 5.48 trillion in the pipeline. Sources in the ministry told Business Standard that close 700 new infrastructure projects have been identified, almost doubling the pipeline for the project. The programme was started in 2015 with just 175 projects.

So far, the ministry has completed projects worth Rs 99,281 crore since Sagarmala's inception with a target of Rs 2 trillion by FY24. A majority of these projects pertain to connectivity of railways and roadways to major ports, enhancement of cargo terminal infrastructure, capacity expansion, development of floating jetties, and development of the country's inland waterways network. The ministry estimates cargo handling through inland waterways to double to 200 million tonne (mt) by 2025.

Port projects also account for 2 per cent of the Centre's Rs 6 trillion national monetisation pipeline (NMP). Business Standard on Tuesday reported that the ministry missed its FY22 Monetisation targets by over 85 per cent, on account of delays in obtaining security clearance. Officials in the know say that the apex committee will also take up asset monetisation during the meeting, with the ministry tweaking its targets and adding more projects for this and the upcoming financial years.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, May 04 2022. 19:33 IST
RECOMMENDED FOR YOU
.