Projects worth Rs 1.85 lakh cr awarded under Sagarmala by March 2018

New Delhi: Projects worth Rs 1.85 lakh crore have been awarded under the ambitious port-led development programme Sagarmala by March 2018, the government said today.

The Cabinet, chaired by Prime Minister Narendra Modi, in 2015 had given in principle nod to the project which was launched in 2016.

A total of 224 projects -- entailing an investment to the tune of Rs 1.85 lakh crore -- were launched by March 31, 2018, Ministry of Shipping said in a statement.

It said 196 projects worth Rs 71,868 lakh crores are expected to be awarded in 2018-19.

Ninety-eight projects worth Rs 31,046 crore expected to be completed in 2018-19, the statement said, adding that 59 projects worth Rs 11,299 crore have been completed till March 31, 2018.

"These include various infrastructure projects, coastal berth projects, fishery harbours and skill development projects. These projects are being implemented by relevant Central Ministries, State Governments, Ports and other agencies primarily through the private or PPP mode.

"These include unique and innovative projects like Gogha-Dahej RO-Pax Ferry Services Project and RO-RO Services Project at Mandwa," the statement said.

In addition, TEFR (techno economic feasibility report) is under preparation for development of underwater viewing gallery and restaurant at BeytDwarka Island and the consultant has been selected for preparing DPR (detailed project report) for the National Maritime Heritage Centre proposed at Lothal, it said.

As part of Sagarmala, 572 projects, at an estimated infrastructure investment of more than Rs 8.4 lakh crore, have been identified across the areas of port modernisation and new port development, port connectivity enhancement, port-linked industrialisation and coastal community development.

These projects will be implemented by relevant Central ministries, state governments, ports and other agencies primarily through the private or PPP mode, the government said.

To assist in implementation of projects, Sagarmala Development Company Limited (SDCL) was incorporated earlier for providing funding support to project SPVs (special purpose vehicles) and residual projects under Sagarmala

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.