A total of 141 agreements worth Rs 82,905.75 crore were signed during the two day Maritime India summit which concluded today. This apart, the union ministry of shipping and ports has identified another 240 projects worth Rs 4.50 lakh crore ($66 billion). The ministry has set up investment facilitation centre at the Indian Ports Association for the speedy implementation.

The investment deals were for the setting up of liquid cargo handling jetty, development of free trade warehousing zone, development of captive jetty, setting up of container terminal and multipurpose terminal, redevelopment of berths, construction of shallow draft vessels for inland waterways.

Some of these deals include JNPT and various private sector entities for projects well over Rs 15,500 crore, Kolkata Port Trust and domestic and foreign agencies for projects close to Rs 6,500 crore, Mumbai Port Trust & different entities for project of Rs 1,800 crore. The Sterlite Ports will redevelop berths at the Mormugao port which envisages investment of Rs 1,420 crore.

The state run Shipping Corporation of India signed agreements worth Rs 2,165 crore for long term crude oil transportation, carriage of crude from West Africa to India and acquisition of vessels. The Petronet LNG has signed agreement worth Rs 1,500 crore for setting up LNG terminal and power plant in Andaman and Nicobar islands and development of LNG bunkering facilities at Mumbai, Kandla, Cochin, Chennai, Vizag and Paradip Ports.

To give boost to inland water transport, government of Andhra Pradesh entered into an MoU with Inland Waterways Authority of India for development of National Waterway 4 at estimated cost of around Rs 3000 crore. Once developed, this waterway will help take off roads significant portion of cargo traffic.

Visakhapatnam Port Trust signed an MoU with HPCL who plan to increase the capacity of Visakha Refinery from 7.50MMT to 15MMT at an estimated cost of Rs 18412 cr.

The union minister of ports and shipping Nitin Gadkari said that MoU will be signed with the NHAI to prepare detailed project reports for road projects connecting ports worth Rs 2 lakh crore. The implementation of these projects, which are part of the Sagarmala project, will be launched thereafter. As far as rail connectivity to ports is concerned, the Indian Rail Connectivity Corporation will be asked to complete DPR for those projects.

As far as port mechanization is concerned, of the 104 projects 30 have been completed and the balance will be taken up in a year. He informed that similar summit will be held after every two years.