Maritime Development - Indian Budget 2006 – 2007 (85 - 87)

Maritime Development

85. Honourable Members are aware that the National Maritime Development Programme (NMDP) has been approved by the Government. The port sector alone will require Rs.55,804 crore. Work is in progress in 101 projects covering, inland waterways, shipping and ports which include deepening of channels in Kandla, JNPT and Paradip. I propose to increase the Plan allocation for the Department of Shipping by 37 per cent to Rs.735 crore.

86. A deep draft port is required in the eastern part of the country. I am happy to announce that it is proposed to carry out a detailed study to identify a suitable location for a new deep draft port in West Bengal. The existing National Institute of Port Management, Chennai, has been renamed as the National Maritime Academy, and it is proposed to upgrade it into a Central University under an Act of Parliament. The University will have regional campuses at Mumbai, Kolkata and Visakhapatnam.

87. The India Infrastructure Finance Company Limited (IIFCL) has been incorporated, and the first proposal for funds has been received. Several proposals have been received for viability gap funding for PPP projects. In-principle approval has been granted to three road projects in Gujarat and a final decision is likely to be taken before March 31, 2007.