Cochin Port’s outer harbour project to be ready by 2020: CPT Chairman
If all goes well, the ambitious outer harbour project of Cochin Port Trust (CPT) worth Rs 3,050 crore will be ready by June 2020, says A V Ramana, chairman (in-charge), CPT. According to him, the Indian Navy will give Rs 1,050 crore for the project.
Ramana says that the central government may provide funding under Sagar Mala project for outer harbour. Once outer harbour is in place, the dredging cost of Cochin Port – Rs 120 crore a year now – will drop to Rs 60 crore (read more)
CONCOR Loses Mildly in the Road Sector but Wins in container Rail segments:
The Container Corporation of India (CONCOR) seems to losing its edge over top six terminals in private sector. Even though with dedicated freight corridor (DFC) is assisting it to be in the neck of competition, CONCOR is going to encounter few troubles given its recent performance in market share gains concerning road players.
Now the government of India has highlighted interest to drive logistics framework and integrated transport model this month, which shall lower costs, build hub-and-spoke platform with 35 multimodal logistics park. These efforts are surely to benefit transportation of goods in India and CONCOR to a great extent (read more)
India becomes third largest aviation market in domestic traffic:
India has become the third largest aviation market in terms of domestic passenger traffic, beating Japan, an industry report has said. India’s domestic air passenger traffic stood at 100 million in 2016 and was behind only the US (719 million) and China (436 million), Sydney-based aviation think-tank Centre for Asia Pacific Aviation (CAPA) said in its latest report.
India acquired the third spot globally by unseating Japan, which flew 97 million domestic passengers in 2016, CAPA said. Domestic air traffic has shown a consistent growth of 20-25 per cent throughout 2015 and 2016, peaking in January this year at 25.13 per cent. However, the domestic travel demand rose 16 per cent in February this year, ending the long streak of over 20 per cent (read more)
JSW Group to invest Rs 7,000 cr more in ports in India and abroad by 2020:
Industrialist Sajjan Jindal today said his JSW Group will invest Rs 7,000 crore more in the ports sector over next three years to create assets in the country as well as abroad. The company is also looking at diluting up to 15 per cent stake in the ports operating company, JSW Infrastructure, to a private equity player soon, and take it public by 2019.
“We will be investing Rs 9,000 crore more in the ports sector till 2020 (including the Rs 2,000 crore already invested),” he told reporters at JSW Infrastructure-run flagship port here in Ratnagiri district (read more)