Shipping Ministry awards Sagarmala projects worth Rs 72,000 cr in FY19

New Delhi : The Ministry of Shipping in India has decided to award contracts worth nearly Rs 72,000 crore under the Sagarmala Programme in the 2018-19 fiscal, a senior government official said today. “In 2017-18, projects worth Rs 27,986 crore had been awarded, and in the current fiscal, projects worth Rs 71,868 crore will be awarded,” the ministry’s Joint Secretary K K Aggarwal said at a BCCI-organised maritime and logistics workshop here.

The number of projects that will be given comes close to 196 in the financial started April against 69 projects in 2017-18. The Sagarmala Project is a government initiative to develop new ports and modernise the existing ones, along with projects focused on road and railway connectivity. In the meantime, Aggarwal said the techno-economic feasibility report (TEFR) is being prepared for the Tajpur port, and it would take two-three months to complete.

About Sagar Mala Project:

Sagar Mala project is a strategic and customer-oriented ₹8 trillion investment initiative of the Government of India involving the setting up of 6+ mega ports, modernization of several ports, development of 14+ Coastal Economic Zones and at least 29 Coastal Economic Units, development of mines, industrial corridors, rail, road and airport linkages with these water ports.