Major PSU pact MoU to enhance Port Infrastructure and Global Maritime
The agreements signed are for the port development and capacity augmentation.
A strategic signing of MoU has taken place on the eve of the Samudra Se Samriddhi—Transforming India’s Maritime Sector event, where a number of projects pertaining to the maritime sector were launched. The agreements signed are for the port development and capacity augmentation.
A landmark MoU was signed between Paradip Port Authority, Visakhapatnam Port Authority, Sagarmala Finance Corporation Limited, and the Government of Odisha for the development of a new port at Bahuda, with a capacity of 150 million tonnes per annum proposed to be developed on more than 6,700 acres of coastal salt land that have been designated for maritime use. This project is expected to attract an investment of around Rs 21,500 crore.
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With the signing of an MoU between the Inland Waterways Authority of India and the Government of Bihar for a Water Metro Project in Patna, costing around Rs 908 crore, this collaboration proposes to deploy energy-efficient electric ferries, develop modernized terminals, and integrate urban waterways with multimodal systems of public transport. Ten strategically identified terminal points along four potential routes in Patna will reconfigure how citizens travel across the river city, while the project will stand as a pilot for similar initiatives in other Indian cities.
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