India News | MoU Signed with Gujarat Maritime Board for Investment of Rs 17,000 Crore
Get latest articles and stories on India at LatestLY. A Memorandum of Understanding (MoU) for a capital investment of Rs 17 thousand crores was signed by Gujarat Maritime Board and Gujarat Pipavav Port Limited (APM Terminals) in Gandhinagar on Wednesday in the inspiring presence of Chief Minister Patel and AP Moller-Maersk Board Chairman Robert Maersk Ugla.
Gandhinagar (Gujarat) [India], October 29 (ANI): In line with the vision of 'Samudra Se Samriddhi' given by Prime Minister Narendra Modi, the Gujarat government, under the leadership of Chief Minister Bhupendra Patel, has taken an important step towards realising the vision through the development of modern infrastructure in the ports sector in Gujarat.
According to the Chief Minister's Office, a Memorandum of Understanding (MoU) for a capital investment of Rs 17,000 crores was signed by the Gujarat Maritime Board and Gujarat Pipavav Port Limited (APM Terminals) in Gandhinagar on Wednesday in the presence of Chief Minister Patel and AP Moller-Maersk Board Chairman Robert Maersk Ugla.
The objective of this MoU is to further strengthen Gujarat's maritime sector by advancing development in the state through the KPCT's expansion of Pipavav Port.
Appreciating this MoU, Chief Minister Patel said that the expansion of Pipavav Ports will further strengthen Gujarat's established identity as the 'Maritime Gateway' of India.
By strengthening Gujarat's port network, the state's industries, exporters, and logistics sector will be empowered. Both the time and cost of exports and imports will be reduced. Industries, warehousing and supply chain facilities will develop in the areas around the port, and there will also be a significant increase in the economic activities of the state.
This project will create about 25,000 new employment opportunities, both directly and indirectly. These employment opportunities will give a new impetus to the local economy and will also improve the standard of living in rural areas.
This MoU will increase the existing container, bulk, liquid and Ro-Ro cargo-carrying capacity of Pipavav Port, which will make the port's operations more effective and faster. Under this investment, new liquid cargo berths, mechanical bulk-handling facilities, modern container terminals, digital operating systems, and environmentally friendly infrastructure will be developed.
It is important to point out here that after this possible expansion, Pipavav Port will establish a new identity in the maritime sector of Gujarat, and this expansion project will be important in the target of increasing the capacity of non-major ports of Gujarat to 3000 MMTPA by 2047 in line with the Maritime Amritkal Vision 2047 given by Prime Minister Modi.
John Golden, Chief Executive of APM Terminals Asia and the Middle East, said that this investment plan is not only for the expansion of Pipavav Port, but it will open up new opportunities for Gujarat, India and global trade. He said that their goal is to make Pipavav a model of world-class efficiency and green growth, create lasting prosperity for the local community and further strengthen India's leadership in maritime trade.
On the occasion of this MoU, Additional Chief Secretary to the Chief Minister MK Das, Advisor to the Chief Minister and Chairman of GMB SS Rathore, Principal Secretary, Ports and Transport RC Meena, Executive Vice Chairman, Gujarat Maritime Board Remya Mohan and senior officials of the Maritime Board were present.
On behalf of Maersk and APM Terminals, Group Chief Representative Officer Rene Pedersen, Managing Director, Gujarat Pipavav Port Girish Agarwal and Head of Public Policy and Regulatory Affairs for Maersk, India Bangladesh and Sri Lanka Region Vivek Sharma also joined the MoU. (ANI)
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