MPT to sign 20 MoUs to unlock Rs 3.5k cr investment

Mormugao Port Trust is all set to ink 20 agreements with various industry partners and government bodies during the three-day Maritime India Summit, which will commence on March 2. The agreements are expected to unlock investments to the tune of Rs 3500 crore, said MPT chairman E Ramesh Kumar.

Kumar, who addressed the press on Wednesday, said that the summit will help attract investment to Goa, particularly in the maritime sector.

“MPT and the Goa government will present investment opportunities in the ports and maritime sector in Goa to the global investor community. I am hopeful that this summit will lead to sharing of knowledge but also give us an opportunity to invite investments in a big way,” Kumar said.

One of the MoUs that MPT will ink is with the Indian Port Rail and Ropeway Corporation Ltd to undertake a feasibility study for the Vasco-Dona Paula ropeway project.

The second edition of the Maritime India Summit, which is being held virtually, will see Prime Minister Narendra Modi deliver the inaugural address and release the Maritime India Vision 2030. Modi is also expected to launch the Sagarmala – Sagartat Samridhi Yojana, Arth Ganga programme, the National Logistic Portal (Marine) and a promotional scheme for flagging of ships in India.

The summit aims to showcase and promote both domestic and international investment in the Indian ports and maritime sector and is being organised till March 4. The state government along with the Konkan Maritime Cluster is participating in the Summit along with nine other states and 42 nations.

The Union ministry of shipping hopes to kick start the investment in port modernisation and new port development, ship building, ship repair and ship recycling, inland waterways transport, coastal shipping, multi-modal logistics, bulk cargo transportation, port-led industrialisation and maritime clusters.

“With the aim to promote the development of the Chabahar port, the last day of the summit has been dedicated exclusively for the development of Chabahar as a maritime hub for trade with Afghanistan and the International North South Transport Corridor countries,” Kumar said.