Govt eyes Rs.2,500 cr profit from ports in two years

Union minister Nitin Gadkari has said the Centre is targeting a net profit of Rs 2,500 crore from its 12 major ports in the next two years. Shipping and waterways would contribute at least one per cent to the country´s GDP by March 2016, he added. Gadkari said major ports will add 100 million tonne capacity by 2018 and have plans to spend about Rs 15,000 crore per annum. ´The country´s 12 major ports will add at least Rs 1,000 crore to their net profit in the next two years and add 100 million tonnes of capacity,´ the Minister revealed. He added that the Government is going ahead with the port modernisation programme and his Ministry will seek the Cabinet´s nod on the same.Gadkari said massive steps are ongoing to overhaul the shipping sector.