Sagarmala Development Company Limited (SDCL) on Monday said it has signed agreements for maritime projects worth Rs 11,870 crore with various public as well as private sector players. 

The pacts were signed on the eve of the Maritime India Summit 2021, scheduled to be inaugurated by Prime Minister Narendra Modi on Tuesday. The projects pertain to the development of product-specific warehouses, operationalization of specialized vessels such as roll-on roll-off and coastal shipping vessels among others.

Sagarmala Development Company has signed 48 agreements which entail an investment of Rs 11,870 crore,'' the Company Managing Director/Director (Projects) Dilip Kumar Gupta said. He said the projects have a potential to generate direct employment for 1.68 lakh persons and indirect employment for 7.73 lakh persons.

SDCL has signed MoUs in relation to the development of product-specific warehouses, operationalization of specialized vessels such as Ro-Ro, cruise, and exploring various investment opportunities available for the development of ports and maritime-related activities, Gupta said.

According to a statement from the company, 24 firms have signed the MoU for the development of product-specific warehouses at various ports and alongside Inland Waterways which entails an investment of Rs 7,544 crore with a direct employment potential of 1.60 lakh persons and indirect employment potential of 2.63 lakh persons.

The companies which have signed the MoUs include Central Warehousing Corporation, Balmer Lawrie & Co, Hind Terminals Pvt Ltd, NDR Infrastructure, Vopak India Pvt Ltd and JM Baxi among others.

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