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Home » Emerging Trends Advisors » Gujarat’s ports attract Rs 36,000 crore investment

Gujarat’s ports attract Rs 36,000 crore investment

Jan 19, 2019 | Asia, Emerging Trends Advisors, India

Indian and foreign firms committed an investment of nearly Rs 36,128 crore in Gujarat’s ports sector at the ninth Vibrant Gujarat Global Investors Summit on Friday.

Port of Amsterdam signed atripartite agreement for developing a cruise terminal in Porbandar. An agreement was signed with Gujarat Maritime Board (GMB) and JM Baxi & Co. A cumulative investment of Rs 800 crore is envisaged in developing the cruise terminal.

Chicago-based EagleRail Container Logistics, which has patented a technology to evacuate containers and other cargo directly from ships to the port area, also signed an MoU with GMB. If implemented, Gujarat ports could show the way to other ports in India in significantly reducing congestion and pollution.

“We are considering setting up ERC’s facility in ports like Porbandar or Magadalla. If dirty cargo like coal is handled through this system, it will help us create more infrastructure like cruise terminals which otherwise can’t be developed at such ports,” said a senior GMB officer.

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Mike Wychocki, chairman, ERC, told TOI: “The technology is an adaptation of overhead, suspended monorail for passenger movement. It was invented approximately some seven years ago due to a demand for a non-road and non-ground rail container movement solution to take containers in and out of the ports.”

Article Source : timesofindia.indiatimes.com

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