The government is tapping some cash-rich state-run ports to build Greenfield facilities such as the ones planned at Vadhavan in Maharashtra and Galathea Bay in Andaman and Nicobar Islands as well as part-fund a proposed Maritime Development Fund [MDF] as budgetary support shrinks.

The Union Budget for 2024-25 has earmarked Rs.7 billion, comprising Rs.6.6 billion for revenue and Rs.0.4 billion on capital for Sagarmala projects.

No funds have been provided for the Sagarmala Development Company in the budget.

The 12 major government ports have combined cash reserves of some Rs.180 billion.

Deendayal Port Authority, Paradip Port Authority, Visakhapatnam Port Authority and VOC Port Authority have been asked to pitch in with funds for developing an international container transhipment port at Galathea Bay in the Great Nicobar Island with an investment of over Rs.400 billion.