Maritime India Summit: Gujarat set to ink deals worth Rs 35,000 crore

Located in close proximity to shipping routes, this proposed complex will have a shipyard that can accommodate about 300 ships for repairs per annum. It will also have an annual shipbuilding capacity for 20 ships that can be as large as a Panamax vessel. The deal will also see IL&FS set up a Marine and Energy SEZ, a Free Trade Warehousing Zone (FTWZ) and coal and multipurpose jetties at Nana Layja.

Deals will also be signed for the development of a jetty at Porbandar and Okha on the western coast of the state for the Indian Coast Guard at the cost of Rs 100 crore. Another project involving development of a breakwater and a jetty at Porbandar will be inked for the Indian Navy, sources added.

It will also include a host of expansions of existing projects, including the Rs 700-crore oil berth at Sikka, Rs 1,850 crore expansion of Pipavav port and Rs 7,600 crore expansion of Mundra port by Adani Group which will include an LNG terminal with regasification and storage facility and a container port facility at the South Port at Mundra.

However, some of the proposed investments for which agreements are to be signed have been announced in the past. For instance, the Rs 6,000 crore project by Swan Energy Ltd for developing India’s first Floating Storage & Regasification Unit (FSRU)-based LNG import terminal at Jafrabad (Amreli district) has been proposed way back in 2008. Similarly, the development of a LNG terminal with regasification and storage at Chhara port by Shapoorji Pallonji Co. Ltd, with an investment of Rs 8,900 crore, has also been proposed in the past. This project also involves development for bulk cargo at the port.

The business deals from Gujarat will be part of the Rs 82,000 crore of MoUs that are likely to be signed at the summit in Mumbai. The objective of the summit is to attract potential investors to various components in the maritime sector.