The Shipping ministry will invest Rs.73,793.95 crore for development of various projects in the port sector as part of the 12th Five Year Plan.
India has a total of 187 minor ports and 13 major ports spread across the nine maritime states and the national maritime agenda is looking at raising the total port traffic to about 2500 million tonnes by 2020 as compared to the current levels of less than 800 million tonnes. In addition, the maritime agenda also estimates that the total capacity at all the ports will rise to 3130 million tonnes as compared to 900 million tonnes now.
The shipping ministry had earlier said that it was looking to award 24 public-private partnership projects in the port sector worth Rs 17,000 crore in 2011-12, but it could not award more than one project. While some of the port projects had been faced with security hurdles and is awaiting the clearance from the defence ministry, the shipping ministry is certain that the target will be achieved.
" We are sure that the target can be achieved. The sector has huge potential and both Indian and foreign companies are keen on developing projects," said Rakesh Shrivastava, Joint Secretary (Ports), Ministry of Shipping had earlier told ET.
The ministry also said that by the end of March, 2012 the existing capacity at Major Ports was 689.83 million tonnes per annum As per 12th Five year plan the capacity of Major Ports will be increased to 1229.24 million tonnes per annum by the end of March, 2017.
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