: New routes identified for inland waterways including four international destinations for Ferry Services #FinanceIndia #StockMarketNEWS New Delhi, Dec 21 (KNN) To promote the supplementary and sustainable

@StockMarketNEWS Tue 22 Dec, 2020

Posted in: #FinanceIndia #StockMarketNEWS

New routes identified for inland waterways including four international destinations for Ferry Services #FinanceIndia #StockMarketNEWS
New Delhi, Dec 21 (KNN) To promote the supplementary and sustainable mode of alternate transport, the Ministry of Ports, Shipping and Waterways (MoPSW) has identified new routes for the commencement of ferry services through inland waterways.

The identified domestic locations are Hazira, Okha, Somnath Temple, DIU, PIPAVAV, Dahej, Mumbai/JNPT, Jamnagar, Kochi, Ghogha, Goa, Mundra and Mandvi and 6 International routes, connecting 4 international destinations namely Chattogram (Bangladesh), Seychelles (East Africa) Madagascar (East Africa) and Jaffna (Sri Lanka) from Indian major coastal port towns.

MoPSW has been working continuously for the promotion of Coastal Shipping under Sagarmala Programme. The Sagarmala programme is the flagship programme of the Ministry to promote port-led development in the country through harnessing India’s 7,500 Km long coastline and potentially navigable waterways.

MoPSW, through Sagarmala Development Company Limited (SDCL), is desirous of facilitating the companies to operate RO-RO, RO-PAX and Ferry services on various routes across the nation and provide the required support to make the project operational.

MoPSW has recently successfully implemented one of such ferry routes by deploying RoPAX vessel ferry service between Hazira and Ghogha. This ferry service has reduced the distance between Ghogha and Hazira from 370 Km to 90 Km and travel time from 10 to 12 hours to about 5 hours. This will result in huge savings of fuel (approx. 9000 litres per day)

To replicate the success of the above business model, MoPSW now encourages the private operator to identify the routes, which offers potential to commence the RO-RO, RO-PAX ferry service based on the localized demand.

The purpose is to create a supplementary mode of transportation, which will not only be beneficial for the daily commuters, tourists’ movement and cargo transportation but also helpful in reducing carbon footprint by shifting to environment-friendly mode of transportation from rail and road. It will provide impetus to the tourism industry, create job opportunities in the coastal regions and save cost and time for the users.

Sagarmala Development Company Ltd will support the initiative by providing equity to the project in SPV framework, if required, and provide other assistance and facilitation to the private Operator(s) including obtaining various permissions and approvals from regulatory and statutory Government Authorities.