PM Modi unveils Rs 4,000 cr Maritime Boost in Kochi for India's Nautical Advancement

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PM Modi unveils Rs 4,000 cr Maritime Boost in Kochi for India's Nautical Advancement

PM Modi unveils Rs 4,000 cr Maritime Boost in Kochi for India's Nautical Advancement

Industry News
Jan 18,24

These initiatives encompassed the construction of a 310-metre-long New Dry Dock (NDD) at Cochin Shipyard Limited (CSL).

PM Modi unveils Rs 4,000 cr Maritime Boost in Kochi for India's Nautical Advancement

In an effort to enhance the nation's maritime capabilities, Prime Minister Narendra Modi inaugurated projects totalling Rs 4,000 crore in Kochi, Kerala. These initiatives encompassed the construction of a 310-metre-long New Dry Dock (NDD) at Cochin Shipyard Limited (CSL), the International Ship Repair Facility (ISRF) of CSL, and the LPG Import Terminal of Indian Oil Corporation at Puthuvypeen.

According to a press release from the Prime Minister's Office, these significant infrastructure projects align with the Prime Minister's vision to revolutionise India's ports, shipping, and waterways sector, fostering capacity building and self-sufficiency.

Addressing the gathering, PM Modi stated, "In today's era, as India emerges as a major global trade hub, our focus is on augmenting the nation's maritime strength." He emphasised that these projects would accelerate the development of the southern region of the country.

PM Modi underscored the reforms implemented over the past decade to enhance the 'Ease of Doing Business' in ports, shipping, and inland waterways, affirming the government's commitment to establish India as a prominent maritime power. He highlighted ongoing efforts to enhance infrastructure, capacity, efficiency, and connectivity in port cities like Kochi through initiatives like Sagarmala Pariyojana.

The Prime Minister emphasised that with the establishment of the Ship Repair Facility, Kochi would become India's "preeminent ship repairing centre," positioning the country as a significant ship repairing hub in Asia.

"We are striving to augment port capacity, fortify port infrastructure, and enhance port connectivity through initiatives like Sagarmala Pariyojana," quoted ANI, capturing the Prime Minister's commitment to maritime development.

PM Modi noted that the government's interventions and reforms had attracted substantial investments in ports, generating employment opportunities. He invoked India's historical prosperity driven by robust ports and port cities, envisioning a similar role for ports in the present era as India regains prominence in global trade.

Highlighting India's improved ship turnaround time, PM Modi stated that the nation has surpassed many developed countries, reducing delays in cargo offloading. He urged collective efforts in the 'Azadi Ka Amrit Kaal,' emphasising the crucial role each state plays in India's developmental journey.

Attended by dignitaries including Kerala Governor Arif Mohammed Khan, Chief Minister Pinarayi Vijayan, Union Minister Sarbananda Sonowal, and Union Minister of State V Muraleedharan, the event aimed to strengthen India's maritime prowess.

The Central government anticipates that these inaugurated projects will enable Cochin Shipyard Limited to double its turnover to Rs 7,000 crore within the next four years.

Source: Mint