Rs 3 lakh crore to be invested in port development: PM

New Delhi, Dt

India will invest US ૮૨ 4 billion in port projects by 203 and increase its share of clean alternative energy sources in the maritime sector, develop waterways, increase seaplane services and develop the lighthouse as a major tourist destination, said PM Narendra Modi.

Prime Minister Narendra Modi on Tuesday called on global companies to invest in select destinations in India. Inaugurating the Maritime India Summit, Modi said that more than six projects have been identified under the Sagarmala scheme. These projects could cost US ૮૨ 6 billion, or Rs 6 lakh crore, from 2020 to 205. We will encourage private investment in the port sector. The long coastline of India is waiting for you. He added that the government is working on starting 6 waterways in the next 10 years.

Modi said that the Ministry of Ports, Shipping and Waterways is ready with a list of 200 projects for investment. These projects cost US ૩ 21 billion or Rs. 2.5 lakh crore could be invested. The Prime Minister said that there are 15 lighthouses on the coast of India, out of which 6 lighthouses are planned to be developed as major tourist destinations. Light houses are very important in the maritime sector. This helps guide the ships. He said the government was also promoting the use of clean renewable energy in the maritime sector. He added that water drums would be developed at 12 locations across the country, where sea-planes could operate. River cruise terminal infra and jetty will be developed on five national waterways. The government plans to develop domestic and international cruise terminals by 202.