11-07-2016

Gadkari to seek infra investment during his week-long US visit

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Road Transport and Highways Minister Nitin Gadkari will invite investments in ports, ship building and coastal economics zones during his week long visit to the US.

"Indo-US cooperation in the vital infrastructure sector will get a new impetus when (the minister) holds official talks with his counter-part US Secretary of Transportation, Anthony Foxx in Washington tomorrow, on a wide range of projects of mutual interest", an official statement said.


The minister will be "particularly looking" for widening and deepening the scope of Indo-US cooperation in innovative technologies for improving highway development, road engineering, road safety and development of green fuels in automobile sector and electric vehicles, it said.

During his interaction with the US captains of trade and industry and pioneers in the maritime sector, he will highlight investment opportunities in Indian maritime sector.

He will invite US investments in building ports, port-led industrialization, coastal economic zones, construction of new berths/terminals in existing ports like JNPT, Mumbai and Kandla Ports, capital and maintenance dredging, mechanization, hinterland connectivity and evacuation infrastructure, ship building, ship repairing and ship recycling.

India has envisaged $50-60 billion foreign investment for infrastructure. Another $100 billion is envisaged towards industrial development for port-led economic growth and inland waterways, water transport, coastal and cruise shipping and solar and wind energy generation to further boost the country's growth momentum.

The minister hopes to add two percentage points in India's GDP through creating world-class infrastructure.

At the US Department of Transportation, Gadkari will witness Modal Presentations by Federal Highway Administration, US Maritime Administration and National Highway Traffic Safety Administration.

During his visit to New York on the second leg of his visit, he will visit New York City State Transport Department to understand intelligent transport management, city traffic management and control centre and other technology-based transport solutions.

Source: Business Standard 

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