Chennai, Feb 26 (IANS) A total of 150 projects, involving an outlay of around Rs.400,000 crore, have been identified under the Sagarmala project that aims at port-led development, according to the draft Sagarmala National Perspective Plan.
The draft Sagarmala National Perspective Plan was released by the Union Shipping Ministry recently.
“The Sagarmala National Perspective Plan envisages viable infrastructure investment worth Rs.4 lakh crore over the next ten years and industrial investment worth Rs.6 lakh crore,” Nitin Gadkari, minister for road transport, highways and shipping said in a tweet.
According to the draft perspective plan around 150 projects under four pillars-port modernisation, connectivity, port led industrialisation and coastal community development- have been identified executing which could mobilise an infrastructure investment of around Rs.400,000 crore.
The plan also projects an additional investment of Rs.7-8 lakh crore in the industrial and manufacturing sectors.
According to the draft perspective plan the Sagarmala projects could add $110 billion to India’s merchandise exports.
The draft plan has identified 40 port modernisation projects and six mega port locations.
Under the connectivity pillar 65 projects and seven new inland ports have been identified.
The draft plan has identified 27 clusters (nine energy, five material and 13 discrete manufacturing) under port led industrialisation pillar and 10 projects under the coastal community development pillar.
According to the draft plan, globally ports generate significant economic pay-offs-jobs, investments, tax revenue and others.
The plan cities China on the manner it has leveraged its ports for export manufacturing leading to its economic prosperity.
According the shipping ministry, 12 projects have been identified for taking up under Sagarmala in fiscal 2015-16 out of which six projects have been approved and fund of Rs.90 crore has been released in three projects.
Ten additional projects have been taken up for detailed project report (DPR) preparation, 58 road projects and 23 rail connectivity projects have been submitted to Ministry of Road Transport & Highways and Ministry of Railways respectively for consideration.
The perspective plans for 14 coastal economic zones are under development, the government said.