Sagarmala Development Co inks pacts for maritime projects worth Rs 11,870 cr

Sagarmala Development Co inks pacts for maritime projects worth Rs 11,870 cr

• By Staff Writer

Sagarmala Development Co inks pacts for maritime projects worth Rs 11,870 cr

Sagarmala Development Company Ltd (SDCL) on Monday said it has inked pacts for maritime projects worth Rs 11,870 crore with various public as well as private sector players. The projects pertain to development of product-specific warehouses, operationalisation of specialised vessels such as roll-on roll-off (Ro-Ro) and coastal shipping vessels among others.

The pacts were signed on the eve of Maritime India Summit 2021, scheduled to be inaugurated by Prime Minister Narendra Modi on Tuesday.

"SDCL has signed 48 MoUs which entails an investment of Rs 11,870 crore," SDCL Managing Director and Director (Projects) Dilip Kumar Gupta said.

According to a statement from SDCL, 24 companies have signed the MoU for the improvement of product-specific warehouses at various ports and alongside Inland Waterways which entails an expenditure of Rs 7,544 crore with a direct work potential of 1.60 lakh persons and indirect work potential of 2.63 lakh persons.

The companies which have signed the MoUs include Central Warehousing Corporation (CWC), Balmer Lawrie & Co, Hind Terminals Pvt Ltd, NDR framework, Vopak India Pvt Ltd and JM Baxi among others.

Gupta said warehousing requirements will grow by at least five times in the near future.

Besides, 21 companies have signed the MoU to explore and operationalise the enterprise for operationalisation of specialised vessels on various identified routes.

This will entail an investment of Rs 3,777 crore with a direct employment potential of 7,638 persons and indirect employment potential of 5.09 lakh persons.

The companies which have signed the MoUs in this direction include Indigo Seaways Pvt Ltd, Pushpak Logistics Solutions LLP, Adani Logistics Ltd, JM Baxi, Shreyas Shipping & Logistic Ltd, Esquire Shipping and Trading pvt Ltd etc.

The purpose is to create supplementary mode of transportation which will not only be beneficial for the daily commuters, tourist movement and cargo transportation but also helpful in reducing carbon footprint by shifting to environmentally friendly mode of transportation from rail and road, he said.

Besides, it will provide impetus to the resorting industry, create job opportunities and savings in terms of both cost and travel time for users, he added.

In addition three extra MoUs were signed including pacts with Syama Prasad Mookerjee Port Trust (erstwhile KoPT) to explore the initiative for the development of Extended Port Gate System at Balagarh with a likely investment of Rs 350 crore, Indian Port Rail & Ropeway Corporation for working together for identifying and participating in the rail connectivity projects in coastal areas and Transworld Logistic Ltd for exploring the improvement of the Container manufacturing and Maintenance/Repair.

The second edition of the Maritime India Summit - 2021 is being organized by the Ministry of Ports, Shipping and Waterways (MoPSWs) jointly with FICCI as Industrial Partner and EY as Knowledge Partner from March 2 to 4, through virtual mode.

SDCL was incorporated by MoPSWs to assist in implementation of the aspiring Sagarmala Programme that aims development through port-led projects.

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