Modi takes over port project NSAC

Prime Minister Narendra Modi will soon be heading another body, a port infrastructure development initiative-National Sagarmala Apex Committee (NSAC). The PM´s committee is expected to oversee a company, Sagarmala Development Company (SDC) with the Shipping Minister as its Chairman and the Shipping Secretary as the Co-chairman. This company will assist port-development and linkage projects in the private sector and also on public-private participation models. The Centre is expected to spend about Rs 12,000 crore for the first phase of the Sagarmala project and Rs 5,000 crore in the next five years for setting up 10 Coastal Economic Regions (CER) around clusters of ports.