India’s Shipping Ministry has earmarked $3.8bn for 24 port upgrade projects this year, compared with the $903m spent on 12 projects last year, Worldmaritimenews reports. The cash injection will add capacity of 232.43m tonnes per year. Of the 24 projects, 12 are entirely new and the rest are carried forward from the last two years. The biggest project is that of Haldia Dock 2 in Calcutta, which will take a $452m slice of the funds.
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