India seeks 560 billion rupees to double capacity of ports
India is seeking as much as 560 billion rupees ($13 billion) of investment in ports by the end of 2012 to double capacity as economic expansion boosts trade. India, the world's second-fastest-growing major economy, wants to raise the capacity of its 199 ports to 1.5 billion metric tons, Shipping Secretary A.P.V.N. Sarma said last night at a conference in Mumbai. As much as 340 billion rupees of investment may come from non-state companies and overseas, said the top bureaucrat in the ministry of shipping.
There is good response from global investors,'' Sarma said. The government wants the nation's ports to raise 220 billion rupees from their own resources and through borrowings, he said.
India is expanding ports, roads and railways as accelerating economic growth chokes its infrastructure, causing trade delays. The nation's economy has grown at 8.8 percent annually since 2003, the fastest after China among the world's major economies.
There is good response from global investors,'' Sarma said. The government wants the nation's ports to raise 220 billion rupees from their own resources and through borrowings, he said.
India is expanding ports, roads and railways as accelerating economic growth chokes its infrastructure, causing trade delays. The nation's economy has grown at 8.8 percent annually since 2003, the fastest after China among the world's major economies.