Union minister Nitin Gadkari said that the profit from 12 major ports will touch Rs 7,000 crores this year. The net profit stood at Rs 3,000 crore in 2014.
In furtherance, he said that in the first year profits from ports was Rs 3,000 crore. It then rose to Rs Rs 5,000 crore in the third year. This year, he said, we are expecting profits up to Rs 7,000 crore.
The ports play an important role in the creation of jobs and boosted the economy as well, said Gadkari. He was in Chennai to commemorate the foundation stone laying ceremony of National Technology Centre for Ports, Waterways and Coasts in collaboration with IIT Madras.
Announcement of Infrastructure Development Programme
The ministry expects Rs 15 lakh crore investments under the ambitious ‘Sagarmala’ infrastructure development programme, he added.
On the same line, he further added, “About Rs4 trillion investments we are expecting to be made in road connectivity, port-rail connectivity, modernization and mechanization of ports. Already, work worth Rs2.80 trillion has commenced.”
The ministry has also planned to develop Special Economic Zones (SEZs), coastal development zones, industrial, petroleum and automobile clusters.
“In Mumbai, we plan on having an SEZ where we expect investments of Rs 40,000 crore. It will create about 1.25 lakh jobs”, he said.