Sagarmala project to save up to Rs35,000-40,000 crore per annum by 2025: study
The project would help in reducing cost for both domestic as well as export-import cargo as movement of raw materials and finished products would be 60-80% cheaper than road and rail transport
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New Delhi: Sagarmala, the ambitious port-led development project of the shipping ministry is estimated to save up to Rs.35,000-40,000 crore per annum by 2025, says a study conducted under the Sagarmala programme.
The project would help in reducing cost for both the domestic as well as export-import (EXIM) cargo as movement of raw materials and finished products through coastal shipping and inland waterways would be 60-80% cheaper than road and rail transport.
In addition to that, the programme would increase the share of inland waterways and coastal shipping in the modal mix from 6% to 12%.
According to the study, the cost of power generation would get reduced by Rs.0.50 per unit of power as the programme would enable smooth and efficient movement of coal through coastal route and would also increase the movement of coal from 27 tonnes per annum in 2016 to 129 tonnes per annum by 2025. At present, for the power plants that are located a significant distance from the coal mines, the cost of coal logistics makes up for 35% of the cost of power production.