labels: Economy - general
Shipping ministry seeks Rs100,000 crore investment in ports, shipping news
09 April 2008

Mumbai: The country would require Rs100,000 investment in ports and shipping to double port capacity to 1,500 million tonnes by 2011-12, shipping secretary APVN Sarma said.

"We will require Rs100,000 crore investment by 2015 (in ports, shipping and inland waterways)," Sarma said on the sidelines of a conference.

The port sector would require investment worth Rs55,000 crore while shipping and inland waterways would need another Rs45,000 crore by 2015, he said.

The planning commission estimates that India's infrastructure sector will require investment of $500 billion between 2007-08 and 2011-12.

The government is looking for greater private role in infrastructure building and has been inviting foreign players to invest in Asia's third largest economy.

"There is tremendous room for private sector to participate. We have got a lot of response from foreign players for the port sector," Sarma said.

Sarma said the government aims to double cargo handling volume in 12 major ports in India from the current 520 million tonnes to 1,000 million tonnes and in smaller ports from 260 million tonnes to 500 million tonnes.


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Shipping ministry seeks Rs100,000 crore investment in ports, shipping