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Government Considers Law Amendment for Ship Mortgaging
The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com
Shipping Minister Sonowal launches ‘Cruise Bharat Mission’ to boost tourism
The Union Minister of Ports, Shipping & Waterways, Sarbananda Sonowal, has unveiled the ‘Cruise Bharat Mission’ to significantly enhance India’s cruise tourism industry. The initiative aims to double the cruise passenger traffic from Mumbai Port by 2029. According to an official statement, the mission is expected to attract over 1.5 million river cruise passengers, leveraging India’s more than 5,000 kilometers of operational waterways. Speaking at the launch, Sonowal emphasised that the ‘Cruise Bharat Mission’ marks a pivotal step in revitalising India’s cruise sector. “Under..
Centre sanctions Rs 110 billion for road development in Chhattisgarh
The Union government has approved Rs 110 billion to enhance road connectivity in Chhattisgarh, according to a statement from the state government. The approval came from Union Minister for Road Transport and Highways, Nitin Gadkari, during a review meeting with Chhattisgarh Chief Minister Vishnu Deo Sai in New Delhi. The funding will be used to develop four major national highways, which are expected to transform the state’s transport infrastructure and boost industrial growth. In addition, Gadkari has greenlit the preparation of Detailed Project Reports (DPRs) for other potential projects ..
Alphard Maritime to establish $500 million shipping fund in GIFT City
Alphard Maritime Group has announced plans to set up a $500 million shipping fund in Gujarat’s International Finance Tec-City (GIFT City) to bolster India’s shipping tonnage. Speaking at the ‘Global Ports and Shipping Summit’ in Mumbai, Captain Alok Kumar, Chairman and Promoter of Alphard Maritime, emphasised the fund’s role in supporting Indian fleet owners. The initiative will see Alphard contribute Rs 5 billion, while associates will provide an additional Rs 45 billion, aiming to help Indian fleet owners acquire assets valued between $10-20 million. “Once operational, the fund w..
