High logistical cost prevailing in India is the biggest hindrance for Indian businesses on the global level and the Ministry of Shipping will aim to reduce the cost under the Sagarmala Project, said Nitin Gadkari, Union Minister for Shipping, Road Transport and Highways, on the second day of the Maritime India Summit 2016.
Category: Ports & Shipping
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Indian major ports set to install 200 MW renewable projects
In a bid to become self-reliant in energy, the Ministry of Shipping has chalked out plans to install around 200 MW captive (150 MW solar and 50 MW wind) renewable power projects in as many as 11 major ports in India.
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Shipping Ministry’s 3-day summit
In an effort to boost port-led development in the country, Ministry of Shipping is hosting a three-day maritime event in Mumbai between April 14-16. With South Korea as its partner country for this summit, the ministry plans to offer projects worth $19 billion for investment.
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Govt plans 4 new major port projects
The government is planning four new major ports at Tamil Nadu, Maharashtra, West Bengal and Andhra Pradesh at an investment of Rs.32,000 crore under the PPP model.
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Ship repair units see limited benefit
The government's proposal to exempt excise duty on spare parts used for repairing of ship vessels is not expected to benefit domestic ship repair units in a big way amid drying top-lines.
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Govt relaxes cabotage rules to boost transshipment
To promote transshipment at Indian ports, the Shipping Ministry has allowed relaxations in cabotage rules. Cabotage is the transport of goods or passengers between two places in the same country. Transshipment is the movement of goods and containers to an intermediate destination.
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We need to build an institutional framework of ties for coastal shipping to really takeoff.
Deepak Shetty, DG, Shipping & Additional Secretary, Government of India, Ministry of Shipping, tells Rouhan Sharma that the framework of a hub and spoke model under the Sagar Mala project
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Adani Ports Q3 net profit jumps 26% to Rs.645 cr
Adani Ports and Special Economic Zone Ltd (APSEZ) reported a 26 per cent jump in its consolidated net profit to Rs.644.96 core for the quarter ended December 2015.
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Shapoorji in talks with Karaikal port
Shapoorji Pallonji Group is in talks with the promoters and private equity investors of Karaikal Port
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Centre to float tenders for Colachel port
The Shipping Ministry will issue tenders by March for the appointment of a consultant for the proposed trans-shipment port of Colachel. Union Transport Minister Nitin Gadkari said Colachel in Tamil Nadu, Sagar in West Bengal and Wadhawan at Dahanu in Maharashtra will be the three new greenfield ports