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Published from Chennai and Circulated among the trade across the country RNI TNENG/2014/59741 Wednesday, November 29, 2017 8 Pages
Centre Approves Over Rs One Lakh Crore Worth Highway, Shipping Projects to TN New Delhi Port Wings News Network nion Minister of Road Transport and Highways, Shipping, Water Resources, River Development and Ganga Rejuvenation Mr Nitin Gadkari has said that the Centre has approved projects of value of more than one Lakh crore rupees for Tamil Nadu. These projects will cover the Highways, Shipping and Port and for finding a permanent solution to the irrigation and drinking water requirements of the state. The Minister was addressing a joint press conference with Tamil Nadu Chief Minister Mr Edappadi K. Palaniswami after a review meeting of Central and State government. Rs 40,000 CRORE WORTH ROAD, HIGHWAY PROJECTS Mr Gadkari, announced 40,000 crore rupees worth of road and Highway projects approved at the meeting held on 23 November.He outlined the proposed projects with details of the financial outlay. The Tamil Nadu Chief Minister Eddapadi K. Palaniswamy said that the meeting was fruitful and thanked the Union Minister for largely accepting projects and programmes
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Mr.Nitin Gadkari addressing in Press Conferrence at Chennai
put forward by the state government. Union Minister of State for Finance and Shipping, Mr P. Radhakrishnan and Tamil Nadu Transport Minister Mr M.R.Vijayabhaskar, senior officials of Centre and State governments also attended the meeting. THREE NEW ELEVATED CORRIDORS Focussing on the decongestion of Chennai Traffic, Mr Gadkari said Three New Elevated Corridors have been approved first being the Tambaram- Chengelpatu at a cost of 2250 crores, PoonamaleeMaduravoyal Corridor with an outlay of 1500 crores and the Tiruvallur
Corridor budgeted at 1000 crore. He also said that Tambaram- Vandalur ,Vandalur -Guduvanchery section of the Highway will be upgraded to 8 lane Highway with a budget of 72 crores which will also solve the traffic congestion at the Tambaram -Perungalathur bridge. CHENNAI- BENGALURU EXPRESSWAY The ChennaiBengaluru Expressway is being taken at a projected cost of 20,000 crore rupees and will boost industrialisation and development activities along the Express way. The Minister requested the state Government to Contd. on page -2
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Government Grants Logistics Sector “Infrastructure” Status New Delhi Port Wings News Network he Logistics Sector has been granted Infrastructure status. The need for integrated Logistics sector development has been felt for quite some time in view of the fact that the logistics cost in India is very high compared to developed countries. High logistics cost reduces the competitiveness of Indian goods both in domestic as well as export market. Development of logistics would give a boost to both domestic and external demand thereby encouraging manufacturing and ‘job creation’. This will in turn be instrumental in improving country’s GDP. The inclusion of “Logistics Sector” in the Harmonized Master List of Infrastructure Subsectors was considered in the 14th Institutional Mechanism (IM) Meeting held on 10 November, 2017. It was recommended by the Institutional Mechanism and subsequently approved by the Union Finance Minister, Mr Arun Jaitley.
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“Logistics Infrastructure” is included by insertion of a new item in the renamed category of ‘Transport and Logistics’, with a footnote stating that “Logistics Infrastructure” means and includes Multi-modal Logistics Park comprising Inland Container Depot (ICD) with minimum investment of
Rs. 50 crore and minimum area of 10 acre, Cold Chain Facility with minimum investment of Rs.15 crore and minimum area of 20,000 sq. ft, and/or Warehousing Facility with investment of minimum Rs. 25 crore and minimum area of 1 lakh sq ft. It will enable the Logistics Sector to avail infrastructure lending at easier terms with enhanced limits, access to larger amounts of funds as External Commercial Borrowings (ECB), access to longer tenor funds from insurance companies and pension funds and be eligible to borrow from India Infrastructure
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Chennai Port Observes VO Chidambaranar... Pg-3 Pg-3 Deendayal Port Organises Training For... Pg-4 Media Report: V O Chidambaranar Port... APM Terminals Inland Services Inaugurates... Pg-4 Reconstituted WCO-UPU Committee Focuses... Pg-5 Vessel Position at Terminals and Ports... Latest Customs Exchange Rates... SHIPSERV Appoints Business & Account...
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Port Wings plans to bring out a special edition on account of NEW YEAR The special edition will carry articles from all verticals of EXIM trade and special interviews from well-known personalities in the sector.
For Pre-booking Advertisement space, Contact: K.Sivakumar - 9444222056, C.U.Satheesh - 7358020372 M.Richard Collins - 7358020375 (Tuticorin), Email: marketing@portwings.in RNI No. TNENG/2014/59741 Postal Registration No. TN/CNI/GPO/067/2015-17 Posted at Pathrika Channel, Egmore, RMS, Chennai-8. Date of Publication - Tuesday, Posted on Tuesday / Wednesday