The National Democratic Alliance government
recently approved incorporation of Sagarmala Development Co. (SDC) under the
Companies Act, 2013, to boost the shipping sector. The programme has 150
projects categorised into port modernisation, connectivity, port-led
industrialisation and coastal community development.
With the government planning to upgrade its
ship-breaking yards, the steel industry will also gain in the process. As of
July 2016, India received 70 ships for breaking, thereby salvaging 692,689
tonnes of steel.
Source: Hellenic shipping news. 2 August 2016
http://www.hellenicshippingnews.com/indias-ship-breaking-industry-needs-a-steely-resolve/
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