Friday, August 2, 2013

ASSOCHAM suggests ways to develop minor ports in TN


The Tamil Nadu Government should adopt a full-fledged development process for minor ports and connect these ports to industrial corridors of the State, a latest study undertaken by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) has suggested.

According to the report/strategy paper titled “Realising double digit growth in Tamil Nadu,” jointly released by Mr. Ravindra Sannareddy, the Chamber’s Southern Region Council chairperson; Mr. Ravi Wig, Chairman, India-SAARC Business Promotion Council; Mr. D. S. Rawat, National Secretary General, ASSOCHAM; and Mr. N. Raghunathan, Trade Secretary, Builders Association of India; at a Press conference in Chennai on Aug. 1, the (TN) State Maritime Board should form joint ventures with private investors to develop ports and special economic zones (SEZs) in port areas.
Besides, the report suggested that Special Purpose Vehicles (SPVs) also need to be formed to create road and rail connectivity with hinterland.
The report, apart from congratulating the State Government for having a proper framework in place for development of minor ports, stated that the State encourages private investment for the development of captive ports and infrastructure facilities like jetties and promotion of tourist activities like water sports.
The report further revealed that India has attracted over 16,000 investment commitments worth over Rs. 143 lakh crores and Tamil Nadu has acquired a share of over seven per cent in total investment commitments in monetary terms thereby successfully attracting proposed investments worth of over Rs. 10 lakh crores as of June. The total number of investment projects attracted by Tamil Nadu is over 1,500.

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