India Spurring Port Development
The government of India has identified 243 projects at a total cost USD 21 billion have been identified for enhancing the infrastructure at Indian ports upto 2035, under Sagarmala Program.
Out of these 44 projects (USD 1.25 bln) have been completed and 79 projects (USD 53 bln) are under implementation. These projects are being implemented by Major Port Trusts, State Maritime Boards, State Government/UTs and Private Sector.
12 Major ports have spent USD 791 mln in the last two Financial years (FY2016-17 and FY2017-18) and have planned to spend USD 663 mln in the current Financial year ( FY2018-19) for developing infrastructure.
Additionally, Ministry of Shipping has released USD 65 mln to various implementing agencies in last two years for 35 port infrastructure projects costing USD 274mln.
Government has allowed private sector participation in the development of new ports and development of infrastructure at existing ports.
More than 67 projects costing USD 13 bln from major ports are being implemented by Private sector under PPP model. There are 34 existing private ports where port infrastructure are being developed by Private Sector.