PTI
New Delhi
Union minister Nitin Gadkari on Wednesday said the Centre is targeting a net profit of Rs 2,500 crore from its 12 major ports in the next two years, while shipping and waterways would contribute at least 1 per cent to the country's GDP by March 2016.
The Road Transport, Highways and Shipping Minister said the government is going ahead with the port modernisation programme and his Ministry will seek Cabinet nod on the same as it tries to tackle the opposition by trade unions to corporatisation plan for ports.
Gadkari also said that major ports will add 100 million tonnes capacity by 2018 and have plans to spend about Rs 15,000 crore per annum.
"We have already received a report from expert committee by which we can change the existing law to implement modernisation of ports, increase their efficiency and to make our decision making process fast. We will give more power to port chairman and board and by which I feel that we will achieve the goal of corporatisation," Gadkari said.
"The country's 12 major ports will add at least Rs 1,000 crore to their net profit in the next two years and add 100 million tonnes of capacity," the Minister said.
The 12 major ports at present have the cumulative net profit of about Rs 1,500 crore. Secretary Shipping Rajive Kumar said both 12 major ports and about 200 minor ports taken together plan to take their capacity by 2,000 MT by 2018. The present capacity of ports is about 1,400 MT.
"Shipping and Waterways will contribute at least 1 per cent to India's GDP by March 2016," Gadkari said adding 104 projects have been started at ports and 7,500 km of coastal area could be instrumental in jacking up the economic growth.
