NMDP to invest Rs 3,500 cr in Vizag Port

New Delhi, Mar 9 (UNI) The Government has earmarked Rs 3,500 crore for the Vizag port, under the National Maritime Development Programme (NMDP), as a step to enable Indian ports to handle upto one billion tonnes of cargo in five years, an official said today.

''Ports on the eastern coast are going to receive more attention in the days to come, as the centre of global trade shifts towards the East,'' Shipping Corporation of India Chairman and MD S Hajara, said at a National Seminar on Vizag Port, organised by the Confederation of India Industry (CII), here today.

Mr Hajara, while pointing out that maritime was 'a silent&invisible sector', said ''the fact is that it is shipping that drives the economy of India, with 70 per cent of India's energy imports being brought in over the seas.'' He added furthur that, ''Today, India's ports are handling upto half a billion tonnes of cargo. The target is to attain a figure of one billion tonnes in five years.'' To achieve this target, we need to increase the number of ports and invest in developing infrastructure like connectivity by road and trains, he added.

He informed that of the total Rs 3,500 crore, 1600 crore would be spent on developing railway connectivity, 600 crore would be through means of budgetary allocation, another 600 crore through internal accruals, and 900 crore through private sector investments in port related projects.

''The world was looking towards the East, where China and India were acknowledged as growth-drivers. India's democratic fundamentals meant that while it may be difficult to attain 10 per cent plus growth rates, the growth itself would be sustainable,'' he added.

VCPTL COO Capt Ankit Vaishnav, said the creation of this port had made it the most economical route for trade with Asia, the far-east and China, due to its capacity for handling containers, online cargo tracking facility and its increased connectivity by road and trains. ''The facilities and infrastructure at Vizag port however, was grossly underutilised,'' he said.

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