The Indian government is planning to spend the equivalent of R144.5 billion in a bid to upgrade the country’s major ports in a five-year plan, according to the Journal of Commerce.
The “Sagar Mala” programme intends to focus on four key areas: port modernisation, port connectivity improvement, port-led industrial development and coastal community development.
With its logistics cost thrice that of China, it hopes to reduce this by developing ports and waterways in the country.
An international consultancy identified 104 port efficiency improvement initiatives, and the ministry of transport has awarded a total of 14 concession contracts as part of the port modernisation scheme.
Also planned for 2015 are 30 new port development projects.
Source: Port Technology and JOC
