[vc_row][vc_column][vc_column_text]
Maritime projects worth Rs 8 lakh crore that failed to attract private investment will be executed by the shipping ministry through government funding. The ministry has identified 199 such contracts to be implemented over the next two years. These projects, of which Rs 1.37 lakh crore are under various stages of implementation and development, will be executed in phases. The residual projects drew low interest from the private sector on account of financial viability. The proposal to undertake them through government funding was first mooted in 2014 when the government announced its infrastructure development plan.
As many as 415 projects were identified to be executed by the private sector in a span of 20 years (2015-2035). Of these, 199 projects are targeted to be executed by 2019. The 199 projects include port modernisation, port-led industrialisation, port connectivity and coastal community projects. Of these, 55 are worth above Rs 1,000 crore each.
[/vc_column_text][/vc_column][/vc_row]
