Among the key projects expected to benefit from this financing arrangement are the expansion of container handling facilities, the construction of new berths, and the implementation of state-of-the-art technology to enhance operational efficiency.
The NBFC, launched by the Ministry of Ports, Shipping, and Waterways, will play a pivotal role in channelling funds to key projects under the Sagarmala initiative, which aims to reduce logistics costs, enhance port connectivity, and promote sustainable development along India’s extensive coastline.
Manufacturers, particularly in China, which dominates the global container production market, are struggling to keep up with the influx of orders.
The settlement addresses a range of issues that had been a point of contention between port management and the workers, including wage revisions, job security, and working conditions.
The project will connect Ghaziabad to important industrial and residential hubs in Haryana and the twin cities of Noida and Greater Noida, providing an efficient alternative to road transport, which is currently plagued by heavy traffic and frequent bottlenecks.
This technology is particularly effective in cutting down pollutants such as nitrogen oxides (NOx), sulfur oxides (SOx), and particulate matter, which are typically produced by ships running on diesel while berthed.
India's overall energy strategy, which prioritizes the development of sustainable technologies and the diversification of energy sources, is in line with the country's shift towards nuclear energy.
Hambantota International Port (HIP) is set to achieve a remarkable 50% growth in its operational throughput by the end of 2024, signaling a significant expansion in its role as a strategic logistics hub in South Asia.
The proposal for a State Maritime Board had been under consideration for several years, with the goal of streamlining the management of Goa’s ports and inland waterways and promoting maritime trade and tourism.
The project involved the movement of critical equipment, including a 100-tonne transformer and several oversized components, from a manufacturing facility in China to the final destination in India.
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