Out of these 112 master plan projects, 39 projects at a cost Rs 205.35 billion are under implementation, a Shipping Ministry official said
Union Minister of Road Transport & Highways and Shipping Nitin Gadkari has said that his two ministries have together spent a total of about Rs 4 lakh crore in the past two and a half years as they work towards building world class highways and shipping infrastructure in the country.
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.
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
The government has granted infrastructure status to the shipyard industry in a boost to its Make in India initiative. The move is expected to bring down borrowing costs for the industry. At present, companies pay average interest of 14-15 per cent on their borrowings.