India looking to overhaul ports

Government looking at funding sources from public, private sectors.

In India, Prime Minister Narendra Modi called for public and private investments to help the country's ports expand their handling capacity, reports The Maritime Executive.

He asked for funds totaling to one lakh crore rupees ($15 billion) in ports and related infrastructure, expenditures intended to double the nation's seaborne cargo handling capacity within a decade.

He said that the nation's port authorities and terminal operators were already well under way towards this target, with project awards totaling to about $3.8 billion over the past two years.

ÔÇ£Five new ports are planned to meet the increasing demand of the exim trade, which will rise in proportion with the fast-growing Indian economy. New ports are also being developed by several coastal states of India,ÔÇØ Modi said. According to the report, part of the planned capacity is to handle a government target for a threefold rise in coastwise shipments, notably bulk.