India and the United States are to deepen the scope of cooperation in the maritime sector, with the American ports expressing interest in port-led development on the sub-continent, especially in the Sagarmala program aimed at modernizing the country’s ports, India’s Ministry of Shipping said.
150 projects under the program have the potential of mobilizing infrastructure investment of USD 50-60 billion and additional investment worth USD 100 billion for promoting industrial growth.
Shri Nitin Gadkari, India’s Minister of Shipping, Road Transport and Highways discussed cooperation possibilities with the representatives of Harbor Department of the City of Long Beach, offering investment opportunities in building and developing new ports, construction of new berths/terminals in existing ports, coastal economic zones, dredging, shipbuilding, ship repairing, ship recycling, development of inland waterways and coastal and cruise shipping.
Gadkari also met with representatives of the Port of Long Beach to explore joint venture opportunities with India’s flagship container handling Jawaharlal Nehru Port (JNPT) to promote transfer of technology and enhance bilateral commerce.
Copyright Ships & Ports Ltd. Permission to use quotations from this article is granted subject to appropriate credit given to www.shipsandports.com.ng as the source.
