Shipping ministry to invest Rs.17,000 crore on 24 projects

New Delhi: The Union shipping ministry has jacked up plans to award port expansion projects on public private partnership (PPP) for the current financial year. The ministry will now award 24 port sector projects worth Rs17,000 crore, against 12, requiring Rs4,000 crore investment planned for the fiscal earlier.

The ministry is planning to award 24 port expansion and capacity creation projects in the current financial year. These will require an investment to the tune of Rs16,963.72 crore, leading to capacity creation of 232.43 million tonnes, The 24 projects, 12 are new projects, while the rest are carry forward projects from the last two years.

One of the major projects that will be taken up in the next fiscal is Haldia Dock 2 in Kolkata, which alone will require an investment to the tune of Rs2,000 crore.