The Union Road Transport and Shipping Minister - Mr.
Nitin Gadkari in a recent media intervention while addressing a Confederation
of Indian Industry (CII) event, said that the Government plans to work towards
directly connecting all 12 Major Sea Ports with railroads and start a
roll-on-roll-off service to transport vehicles easily from factories.
He hinted that work is also being done to draft new
policies for shipbuilding and ship-breaking industry.
He emphasised that inland waterways have to be
developed since it is much more economical compared to road and rail transport
and for this, major rivers need to be connected.
The minister said that it is vital for the private
sector to collaborate with the Government to develop infrastructure. However,
he admitted that the private sector is shying away from PPP (Public – Private –
Partnership) projects primarily because of high interest rates and reluctance
of banks to fund such projects. Speaking on PPP, the Union railways Minister –
DV Sadananda Gowda has recently announced that the Indian Railways is all set
to come out with a Model Concession Agreement (MCA), here FDI will be allowed
only for creation of infrastructure and other development activities in sectors
where no FDI currently exists. At present FDI is open only for operation of
high speed rail and dedicated freight corridors whereas FDI is restricted in
other areas.
Given the current situation, foreign investment can
prove to be the best source for low-cost funding, said Mr. Gadkari.
Speaking about his Ministry's new initiatives, he said
a special North East Corporation would be set up soon to drive infrastructure
creation in the North East region. He also spoke about efforts being made to
expedite tunnel projects in Jammu & Kashmir.
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