EXL: Cabinet to approve Rs 4-5 lakh cr mine connectivity proposal soon – ET Infra


Representative Image

NEW DELHI: The Union Cabinet will soon take up the proposal to approve a mine connectivity worth Rs 4-5 lakh crore that will also help in reducing logistics cost.

It is learnt that a Cabinet on the subject, which was circulated to the concerned ministries and government departments has received approval from the same. The connectivity project envisages and investment of Rs 4-5 lakh crore, spread over a period of time.

The note would be sent to the Cabinet, by the Ministry of Mines, for its approval soon, sources said. Mine connectivity is essentially to ensure there is no fuel shortage and timely supply of the raw material for further use. If there is optimum connectivity with the mines it would also reduce pressure on supply chain management and reduce costs.

Similar plan was envisaged for the port-road connectivity under the Union government’s scheme — Sagarmala — at an investment of Rs 2.61 lakh crore.

The Sagarmala Programme was approved by the Union Cabinet in 2015 to promote port-led development in the country.

Giving special emphasis to modernization of Indian ports, 241 projects at a cost of Rs.2.61 lakh crore are being done under Sagarmala. This covers transforming existing ports by modernization of port infrastructure which involves mechanization of existing berths, creation of new capacity, developing deep drafts for future generation ships, etc.

Connectivity is one of the critical enablers for ports as it is the end-to-end effectiveness of the logistics system that drives competitiveness for industry.

  • Published On Aug 2, 2023 at 01:39 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Get updates on your preferred social platform

Follow us for the latest news, insider access to events and more.



Source link

Leave a Comment

Your email address will not be published. Required fields are marked *

Open chat
1
How May I Help You.
Scan the code
Vishwakarma Guru Construction
Hello Sir/Ma'am, Please Share Your Query.
Call Support: 8002220666
Email: Info@vishwakarmaguru.com


Thanks!!