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Union minister  Nitin Gadkari noted that the role of all ports was very important as it creates a lot of jobs and boosts the economy. Photo: PTI
Union minister Nitin Gadkari noted that the role of all ports was very important as it creates a lot of jobs and boosts the economy. Photo: PTI

Profits from major ports to touch Rs7,000 crore: Nitin Gadkari

Union minister Nitin Gadkari has said that profits from 12 major ports in the country was expected to touch Rs7,000 crore this year, up from Rs3,000 crore in 2014

Chennai: Profits from 12 major ports in the country was expected to touch Rs7,000 crore this year, up from Rs3,000 crore in 2014, Union minister of road transport and highways and shipping Nitin Gadkari said in Chennai on Monday.

“The first year, when I took charge as minister (in 2014) profits from these ports was Rs3,000 crore. Next year, it was Rs4,000 crore. Third year, it was Rs5,000 crore. This year, we are expecting profits up to Rs7,000 crore".

He noted that the role of all ports was very important as it creates a lot of jobs and boosts the economy. He made the comments after unveiling a plaque commemorating the foundation stone laying ceremony of National Technology Centre for Ports, Waterways and Coasts in collaboration with IIT Madras.

Gadkari said the ministry expects Rs15 lakh crore investments under the ambitious ‘Sagarmala’ infrastructure development programme. “Abour Rs4 trillion investment we are expecting to be made in road connectivity, port-rail connectivity, modernisation and mechanisation of ports. Already, work worth Rs2.80 trillion" has commenced, he said.

Under this programme, the ministry planned to develop Special Economic Zones (SEZs), coastal development zones, industrial, petroleum and automobile clusters. “In Mumbai, we plan on having an SEZ where we expect investments of Rs40,000 crore. It will create about 1.25 lakh jobs", he said.

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