Nitin Gadkari invites UAE investors for Sagarmala, Bharatmala & other Infra projects

Posted by Daily Shipping Times on 01-11-2017        Tweet

NEW DELHI/DUBAI: Inviting UAE investors to join hands with India and be part of its infrastructure growth story, Union Minister Nitin Gadkari recently said two mega initiatives worth Rs. 24 lakh crore — Sagarmala and Bharatmala — are going to be game changers.

Addressing the India-UAE Business Summit in Dubai via video conferencing, the Highways, Shipping and River Development Minister said, “India shares a good relation with the UAE. A lot of the stakeholders from there are investing in India.

Prime Minister has taken a great bold decision to start Bharatmala wherein we are planning to start projects worth Rs. 8-lakh crore within two years,” he said.

Gadkari informed investors that in an ambitious initiative, Sagarmala, “we are expecting the investment of Rs. 16 lakh crore including Rs. 4 lakh crore for port road connectivity and modernisation of ports.

“We have started work worth Rs. 1.6 lakh crore in the port sector. Investors have huge opportunity and should join hands with us.”

In Sagarmala, the Government has planned for 14 industrial clusters and special economic zones which are going to accelerate the economy, he said.

He said in JNPT, one of the 12 Major Ports in India, Ministry is planning for special economic zone where it is expecting investment of Rs. 6,000 crore.

“We are working on Ganga, Brahmaputra and some other rivers and by end of this year we will start work on 10 inland waterways in the Country. We have 20,000 km of river length.

“Ganga work is already financed by World Bank with Rs. 5,000 crore assistance and we are developing three Multimodal hubs at Varanasi, Sahibganj and Haldia,” he said.