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April 15, 2016

Maritime Summit attracts enthusiasm
Maritime India Summit at Mumbai attracts huge investments

 

Maritime India Summit which was held in Mumbai from April 14 – 16 2016 generated enthusiasm among participations. During the summit, 141 MoUs and Business agreements were signed which are pegged to have investments of nearly INR 83 crores.

The participants of the summit were the various existing players in the maritime sector which included State Maritime Boards, major Port Authorities and PSUs like Inland Waterways Authority of India, Cochin Shipyard Ltd., Shipping Corporation of India among others.

 

The agreements for the projects do cover a wide plethora of activities, including

  • establishment of new ports and modernization of the existing ports;
  • improving hinterland connectivity of ports by improving road and rail networks;
  • enhancement of cargo handling capacity of Indian ports;
  • up-gradation of the existing educational & training facilities for the sector; and
  • development and extension of inland waterways



The Gujarat Maritime Board signed an MoU with Shapoorji Pallonji Company for developing a new LNG Terminal at Chara which would cost around INR 5,411 crores. The Board will also sign MoU with IL&FS to set up a Maritime Services Cluster at GIFT City.

Shipping Corporation of India also signed agreements to develop the inland and international shipping capacity of Indian ports.

Visakhapatnam Port Trust too signed MoU with HPCL to increase the capacity of Visakha Refinery at an estimated cost of Rs 18,412 crore.

Indian Maritime University, which is one of the leading institutions imparting education and training to maritime workforces, signed MoUs with 4 international institutions. The University also signed a pact with Andaman & Nicobar administration for establishing training facilities in the island territory.

 

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