Dredging Corp, ports to raise ` 3,500 cr via infra bonds

Union Shipping Secretary PK Sinha has said that through tax-free infrastructure bonds the Jawaharlal Nehru Port, Mumbai, Ennore Port and Dredging Corporation of India (DCI) will together raise around Rs 3,500 crore.
While JNPT will issue the bonds for Rs 2,000 crore to finance its dredging work, the Ennore Port (EPL) will raise
Rs 1,000 crore for infrastructure augmentation. The DCI will raise Rs 500 crore to procure a new dredger.
The Government, in the previous budget, had allocated Rs 5,000 crore to shipping ministry for issuing tax-free infra bonds. The proposed bonds will be issued next year, he said.