Major Port's profit seen at Rs.7000 crore in FY2018 : Nitin Gadkari

Posted by Daily Shipping Times on 09-01-2018        Tweet

SINGAPORE: Major Ports are expected to generate a profit of Rs 7,000 crore this year, Road Transport, Highways and Shipping Minister Nitin Gadkari said recently.

Addressing an event, he highlighted the profitability of investments in Indian projects, and underlined the potential of a wide range of projects.

"For this year, we are expecting a profit of Rs. 7000 crore from port operations (as) all ports are making profits," said Gadkari, pointing out that it would be more than double from Rs 3,000 crore three years ago. Six new port projects were being planned, said Gadkari, who inaugurated the gathering where over nine sessions are being held on all aspects of business opportunities in India.

He invited Asean investors to participate in Indian infrastructure projects, as the pace of development is accelerated. He also pointed out the 28 km per day of road completion, up significantly about three years ago. The target is to complete 40 km per day, added Gadkari.

He also gave a progress update on projects, saying 60-70 per cent of work has already started on India's road connection to Myanmar, Bangladesh, Bhutan and Nepal.

The Mumbai Special Economic Zone has attracted 40 companies, including one from Taiwan which has offered Rs 6,000 crore investment.