India in $1.8bn Port Drive


A massive investment into India’s ports and its road sector has been announced by Indian Minister for Shipping, Road Transport and Highways, Nitin Gadkari, which is anticipated to help boost the country’s economy.

According to the Economic Times, the Kolkata Port Trust along with the Indian government is to construct a port in the Sagar Islands at a cost of more than US$1.8 billion.

The draft at Sagar is anticipated to be 13.5m which would enable bigger vessels to enter the port.

West Bengal Chief Minister Mamata Banerjee said that the Indian state government is prepared to extend full cooperation and provide the support needed to complete the project.

Gadkari has also announced additional investments of more than $520 million in the port sector for floating storages and a dry bulk cargo handling terminal.

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