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Work on $82 billion investment in maritime shipping sector continues – PM Modi

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Prime Minister Narendra Modi said on Tuesday that by the year 2035, 82 billion dollars will be invested in various projects for the development of the maritime shipping sector in the country. Along with the development of ports, steps will be taken to develop waterways and to promote tourism around the lighthouse. Inaugurating the summit organized on the maritime shipping sector, the Prime Minister invited global investors to invest in Indian ports, shipyards and waterways.

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Modi said that more than 574 projects have been identified under the Sagarmala project. It is estimated to cost 82 billion dollars or 6 lakh crore rupees. Work on these projects is to be completed between 2015 and 2035. He said that the government is working on bringing 23 waterways into operation in the country in the next 10 years. The Prime Minister said that there are 189 lighthouses along India’s coastal border, out of which the government is working on a plan to develop tourism around 78 lighthouses.

He said that the government is also promoting the use of clean renewable energy in the maritime shipping sector. ‘We are in the process of installing solar and wind power based power systems at all major ports across the country. We are moving forward with the objective of using more than 60 percent of the total electricity used in all ports by renewable energy by 2030. ‘ Modi said that ships carrying goods to and from Indian ports no longer have to wait.

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He said, “India is very serious about development in the maritime shipping sector, with this India is now emerging as a major force in the field of maritime economy of the world.”

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