Shipping ministry signed orders worth Rs 30,000 crore

by Psu Connect
Date: 12-01-24

The ministry of ports, shipping and waterways has signed an agreement of investments worth Rs 30,000 crore during the Vibrant Gujarat Summit 2024.

Shipping ministry signed orders worth Rs 30,000 crore

The shipping ministry has embarked on a remarkable historic move to transform the shipping and ports infrastructure's tremendous development initiative, aligning with the vision of developed India in the next 25 years.

Stepping forward, for the new age decade nation the memorandum of understanding worth Rs 10,000 crore has been signed between Deendayal Port Authority [DPA], Kandla and Umeandus Technologies India Private Limited. The strategic Partnership is purposely done to revolutionize the transportation and logistics infrastructure which is mainly engaged on handling Bulk, Break-bulk, and Container cargo.

The project aims to elevate the port’s capacity to an impressive 300 million metric tons or beyond, ensuring both commercial viability and environmental sustainability. Furthermore, the project aims to generate many employment opportunities for skilled and non-skilled workers with more than 1000 young age groups.

Meanwhile, the proposed Vadhvan port project is termed to be a high-priority initiative for the Government, the port is designed to handle an annual cargo capacity of 23 million TEUs or 254 million tons, surging a natural draft of 20 meters to accommodate larger container vessels of up to 20,000 TEUs. After completion, it would be listed as world’s top 10 largest ports and will serve as a significant green fuel hub.

Also the projects related to maritime investments were unveiled during the event, in line with vision 2047, by Gujarat Maritime Board. The India's Amritkaal Vision 2047 and Maritime India Vision 2030 has transformed a leap forward for Gujarat's maritime sector.