Rs 2.35 lakh crore-worth works under Sagarmala in Maharashtra: Nitin Gadkari
The shipping ministry is planning to undertake works worth Rs 2.35 lakh crore under the Sagarmala project in Maharashtra, according to Union minister Nitin Gadkari. Projects worth over Rs 1.50 lakh crore are in various stages of implementation, while the work on remaining Rs 85,000 crore-worth projects is yet to begin.
Work on these remaining projects, starting with preparation of detailed project reports, is expected to be initiated soon.
Gadkari said initially the estimates of spend on various projects in his home state were in the range of Rs 5 lakh crore, which have now gone up to Rs 7.5 lakh crore. Eight projects entailing investment of Rs 5,384 crore have already been completed, while 45 others involving investment of Rs 27,000 crore are in various stages of implementation.
The minister did not offer details of all the works being undertaken, but said the figure includes Rs one lakh crore for waterways development. At least five rivers in the state feature in the list of over 100 rivers where water transport potential will be exploited.
Gadkari also said that he had a meeting with a Russian deputy prime minister who assured India to deploy ethanol-powered “watercrafts” in the Ganga river. An Indian company has forged a joint venture with Russian firm United Ship Builders for this.
The Sagarmala project has opened huge investment opportunities to the private sector. The Ministry has plans for RoRo services, hovercraft, catamarans, seaplanes among others where we want domestic companies to come forward and invest. Gadkari said it has a potential of nearly Rs 16 trillion of which around Rs 4.53 trillion is expected to come into port mechanisation and port modernisation.