Shipping Ministry meets new project targets for this fiscal


It can be noted that the ministry had been repeatedly missing its targets in the past. The govt has set itself stiff targets as part of the maritime agenda which needs to be implemented by 2020.It can be noted that the ministry had been repeatedly missing its targets in the past. The govt has set itself stiff targets as part of the maritime agenda which needs to be implemented by 2020. 

MUMBAI: Union Shipping Minister G K Vasan today said his ministry has met the FY’14 target of awarding 30 port projects, which entail an investment of over Rs 21,000 crore, adding 217 million tonnes in the annual additional capacity. 

“This is the best achievement in our history and we have already met the target for 2013-14,” Vasan told reporters on the sidelines of an event to formally award two container project contracts to private parties at the country’s largest container port JNPT (Jawahar Lal Nehru Port Trust).

Hurrying through before the model code of conduct sets in, Vasan said the target has been achieved with almost a full month to go on the back of changes in policies.

He also touched upon the achievements of his ministry, saying during the past four years, it has awarded 88 new projects requiring an investment of Rs 42,953 crore and adding 558 MT in additional capacity.

SOURCE: http://economictimes.indiatimes.com/
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