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Indian Sea Ports Capacity Increases To 1.16 Billion Tonnes; To Touch 3.2 Bn Tonnes In Next 10 Years

The capacity of Indian ports has reached 1.16 billion tons (1160 million metric tons) as on December 31, 2011. The Government declared today of the news and also said that strategies have been placed to bring the value up to 3.2 billion tons in the next ten years. The Indian tonnage has recently crossed the 11 million gross tonnage (GT) mark said Shipping Minister G K Vasan while inaugurating the India Maritime Week on 19th of January.

Jawaharlal Nehru Port Trust

Jawaharlal Nehru Port Trust

JNPT (Jawaharlal Nehru Port Trust) is going to sign an MOU with a private sector for the development of Phase I of the 4th Container Terminal. It would cost Rs 4,100 crore. After completion, the terminal is hoping to handle 2.4 million TEUs. The Government plans to take a huge investment of Rs 2.87 lakh crore by 2020 for development and renovation of many ports.

Vasan also said that Government introduced tonnage tax and planning the exemption of Minimum Alternate Tax (MAT) on the book profit on sale of qualifying ships to promote shipping.

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