Govt likely to sign deals worth ₹12,000 crore for rail infra, port development at MIS 2021: Report

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Home >News >India >Govt likely to sign deals worth 12,000 crore for rail infra, port development at MIS 2021: Report

The deals are focused on attracting investment, skilling, and generating employment in the sectorThe deals are focused on attracting investment, skilling, and generating employment in the sector 2 min read . Updated: 28 Feb 2021, 10:24 AM IST Staff Writer

Within two weeks of the announcement of the second Maritime India Summit 2021, more than 44 CEOs have confirmed their participation, including national and international

The Ministry of Ports, Shipping and Waterways is expected to sign memorandums of understanding to the tune of 12,000 crore with various companies at the second Maritime India Summit (MIS) 2021, which is scheduled to take place from March 2 to March 4.

The deals will likely be signed between the government and Coal India Limited (CIL), Central Coalfields (CL), Vedanta Limited, National Industrial Corridor Development Corporation (NICD) Limited, Tata Steel and Essar Ports Ltd, news agency ANI reported quoting government sources.

This will be done with the aim to develop rail infrastructure, maintenance of tracks, a logistics plan, DPR for Rewari project, training, awareness and preparation reports about PRT technology, development of ropeway, smart mobility and improve port efficiency.

"The Ministry of Ports, Shipping, and Waterways is also in process of finalising more than 400 MoUs to be signed in conjunction with the summit. These MoUs will be signed with different coastal states and stakeholders of the sector," reported ANI.

The report further added that the deals are focused on attracting investment, skilling, and generating employment in the sector. "The signing of these MoUs will help in streamlining the process of ship manoeuvring resulting in more business to the ports and economic stability to the sector and its stakeholders," it said.

Within two weeks of the announcement of the second Maritime India Summit 2021, more than 44 CEOs have confirmed their participation, including national and international. International participants from countries like the USA, Russia, Denmark, Brazil, Japan, Sweden, Singapore, the Netherlands will also be present.

The MIS 2021 will provide a unique platform that will have the physical and virtual presence of prominent shipping and transport ministers/ dignitaries from across the world. The maritime states of India will participate in the Summit through dedicated sessions. The Summit will also include an exclusive CEOs' forum and various thematic/ breakout sessions.

With inputs from agencies.

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