L Radhakrishnan, chairman of India’s Jawaharlal Nehru Port Trust (JNPT), which manages India's largest container port, said India was investing $2bn on dredging, and a further $5.5bn on a variegated freight corridor between JNPT and India's capital.
Radhakrishnan said dredging work would take place at the Mumbai Harbour Channel as well as at other port projects. The dredging funds are to be raised through issuance of tax-free infrastructure bonds to domestic retail investors and financial institutions.
The Mumbai-Delhi 1,505 km dedicated freight corridor will pass through Ahmedabad, Palanpur, Rewari, Asaoti and Dadri on the way to the capital, news reports say. Rail will be a key component of the corridor.
Last year, JNPT invited bids for a fourth container terminal at Mumbai. Radhakrishnan won the ‘WPTS Personality of the Year’ award at last week's Abu Dhabi summit.
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