Kandla International Container Terminal (KICT) surpassed its annual cargo handling record three months early. The government also launched two major shipbuilding initiatives with a combined outlay of Rs 44,700 crore to boost domestic capacity.
KICT Sets New Cargo Handling Record
The Kandla International Container Terminal (KICT) recorded a cumulative 78,06,220 MTs of annual cargo handling, an official statement by Deendayal Port Authority, Kandla on Monday,
“Kandla International Container Terminal (KICT) has surpassed last year’s annual cargo handling of 77,58,498 MTs, recording a cumulative 78,06,220 MTs, achieved an impressive 3 months & 9 days early,” the statement said. “A testament to operational excellence and relentless momentum,” it added.
Government Launches Major Shipbuilding Initiatives
Recently, the Ministry of Ports, Shipping & Waterways (MoPSW) notified the operational guidelines for two major shipbuilding initiatives, the Shipbuilding Financial Assistance Scheme (SBFAS) and the Shipbuilding Development Scheme (SbDS), aimed at strengthening India’s domestic shipbuilding capacity and improving global competitiveness.
The approved guidelines lay down a transparent and accountable framework for implementation.
In a separate post, Deendayal Port Authority, Kandla said, “With a combined outlay of Rs 44,700 crore, these landmark initiatives will strengthen India’s shipbuilding capacity, enhance global competitiveness, promote Make in India, and generate employment across the maritime value chain anchoring India’s growth in Atmanirbhar Bharat and the vision of Viksit Bharat.”
Shipbuilding Financial Assistance Scheme (SBFAS)
As per the government statement, under SBFAS, which has a total corpus of Rs 24,736 crore, the government will provide financial assistance ranging from 15% to 25% per vessel, depending on the vessel category. The scheme introduces graded support for small normal, large normal and specialised vessels, with stage-wise disbursement linked to defined milestones and backed by security instruments. Incentives for series orders are also included.
Shipbuilding Development Scheme (SbDS)
The Shipbuilding Development Scheme (SbDS), with a budgetary outlay of Rs 19,989 crore, focuses on long-term capacity and capability creation. The scheme provides for the development of greenfield shipbuilding clusters, expansion and modernisation of existing brownfield shipyards, and the establishment of an India Ship Technology Centre under the Indian Maritime University to support research, design, innovation and skills development. (ANI)
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