INDIAN Shipping Minister Nitin Gadkari said he expects a cumulative profit of INR80 billion (US$1.9 billion) from all major ports and maritime organisations in the current financial year, reports the Press Trust of India.
Indian Shipping Minister eyes US$1.9 billion profit from marine holdings INDIAN Shipping Minister Nitin Gadkari said he expects a cumulative profit of INR80 billion (US$1.9 billion) from all major ports and maritime organisations in the current financial year, reports the Press Trust of India. "All the 12 ports and three flagship organisations have made a profit of INR60 billion for the last fiscal. This is for the first time in the history that such a revenue has been achieved," said Mr Gadkari. "There are some forest and environment issues. We already had discussions with the Karnataka Chief Minister and they are interested in the construction of this port," the minister said. "In Sagarmala Maritime World Conference, we have already planned for infrastructure development - port rail, port road and its mechanisation - at the cost of INR400 million," he said. "We are developing 27 industrial clusters near port-led development zones and we expect investment of 800 million. This will create 600,000 jobs indirectly and 400,000 direct jobs," he said.
