Shipping Ministry Of India Approves INR 123-Crore Oil Jetty Project At Kandla Port
Union Minister for Ports, Shipping and Waterways, and AYUSH, Sarbananda Sonowal, has approved a Public-Private Partnership (PPP) proposal to construct Oil Jetty No.09 at Deendayal Port in Kandla – with a projected cost of Rs 123.40 crore and a 30-year concession period, accompanied by levying royalty fees per ton as well.
Sonowal expressed that Kandla Port has the potential to revolutionize India’s economy; noting that this venture is essential to exponentially increase port capacity as well as drive economic development in the surrounding hinterland.
He further detailed how this project will reduce turnaround times for water vessels and bolster Deendayal Port’s financial capacity through Royalty collection from the Concessionaire – all of this ultimately aiding economic growth across India.
In line with Prime Minister Narendra Modi’s Sagarmala program, Gujarat is actively pursuing 74 projects allocating Rs 57000 Crore for their realization, with 15 projects worth Rs 9000 Crore already completed, 33 projects worth Rs 25000 Crore currently being realized, and 26 additional projects valued at Rs 22700 Crore being constructed – each project implemented by central line ministries, major ports, the state maritime board and other state agencies.
Deendayal Port facilitated 137.56 MT in cargo during FY 2023 (with an 8.23 percent increase compared to 127.10 MT from last year); 70% of such traffic was delivered via road network while 10%, railway; and 20%, pipeline – it is projected to grow at a 10% annual rate until it reaches 267 MT by 2030.
Reference: ET Infra, The Hindu Business Line
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Marine Insight News Network is a premier source for up-to-date, comprehensive, and insightful coverage of the maritime industry. Dedicated to offering the latest news, trends, and analyses in shipping, marine technology, regulations, and global maritime affairs, Marine Insight News Network prides itself on delivering accurate, engaging, and relevant information.
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