Highest ever 94 mtpa capacity added in port sector in 2015-16: Gadkari
09 Apr 2016
Financial year 2015-16 has been historic for the port sector in the country, with 94 mtpa capacity added through 34 capital investment projects, which is the highest in major ports history, union minister of shipping, road transport and highways Nitin Gadkari has said.
Briefing newspersons after the second meeting of the National Sagarmala Apex Committee (NSAC) in New Delhi today, the minister said that Kandla became the first major port to reach 100 million tonne traffic in a year on the back of a 20 per cent improvement in port efficiency, while JNPT became the first major port to reach Rs1,000 crore of net profit helped by 12 per cent of efficiency improvement.
He added that Paradip Port achieved the highest coal loading volumes of 24 million tonnes with 30 per cent efficiency improvement. He said that port efficiency improvement has added 50 MTPA of cargo handling capacity, leading to high returns for ports with comparatively low investments.
Stating that the ports have continued their recovery, Gadkari said that operating profit margins for major ports improved from 27 per cent in FY 2013-14 to 39 per cent in FY2015-16. The major ports have increased their operating profits from Rs3,593 crore in 2014-15 to Rs4,268 crore in 2015-16, posting an increase of about Rs670 crore.
He said efficiency improvement has lowered logistics cost for the trade, creating a estimated benefit of Rs400-500 crore per year and turnaround time has reduced by over 40 per cent in Paradip, Tuticorin and Vizag. Gadkari said projects worth Rs72,818 crore have been awarded for port modernisation and new port/ terminal development.
Emphasising the need for pushing port and port led development, Gadkari said that the forthcoming Maritime India Summit would be a game changer. He added that port-led development has potential for direct employment generation for 4 million persons and 6 million persons indirectly.
The NSAC also approved the National Perspective Plan on Sagarmala.
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