Government will give Rs 500 crore to SCI to lease out cruises

Gadkari said state-run SCI will lease out the assets to private parties who may have difficulties arranging the capital but can deploy the assets locally for productive uses.

Union shipping and ports minister Nitin Gadkari on July 5 said the government will be giving Rs 500 crore to the Shipping Corporation of India to purchase ships in the international market and lease it out domestically.

“We will be giving Rs 500 crore to the SCI under the Sagarmala programme to purchase vessels which are available for cheap due to a slump in international market,” the minister said, speaking at an industry event here.

He said state-run SCI will lease out the assets to private parties who may have difficulties arranging the capital but can deploy the assets locally for productive uses.

The ships can be used either for cruise tourism, roll on roll off services which entail ferrying cars through the sea route and also ro-pax where a car carrying passengers is ferried in a boat. Gadkari said there is a need to shift the road traffic to the seas domestically and we should take advantage of the international situation where assets are available for cheap at present.

He cited the example of a local entrepreneur who bought a boat at throwaway prices and is deploying it on the Mumbai-Goa route for cruise tourism starting from October after refurbishing it. Gadkari specifically mentioned the financial difficulties hit Greece as a market where vessels can be tapped for cheap.

He said the money will come as a grant and the SCI will not have to worry about the finances and also hinted that the government is willing to cover for the losses which may happen because of the initiative.

Gadkari said it is essential to shift to cleaner fuels like methanol and ethanol which will also serve as a substitute to the imported fuels, and added that state-run Rashtriya Chemicals and Fertilisers is setting up a dedicated facility to produce those at Thal in Maharashtra. He said on a pilot basis, 10 buses each will be run on the cleaner and cheaper fuels in Guwahati and Mumbai. Eventually, diesel engines can also be converted into methanol-based ones, he said.

There is also a need for the sea trade to shift to the cleaner fuels, he said, adding that Cochin Shipyard is setting up a facility in the financial capital where such retrofitting will be carried out.

You might also like

Latest

Lords Hotels & Resorts launches new property in Chotila

Lords Hotels & Resorts also Gujarat’s biggest mid-market hotel chain has announced plans of launching another new resort in the State. Currently under construction, the resort is expected to commence

Trending

British Airways announces partnership with Vistara

British Airways and Indian domestic carrier, Vistara, have announced a new partnership that will open up more routes between India and London than ever before. As part of the new

Trends

Royal Caribbean Cruises to purchase 67% stake in Silversea Cruises

‘Crown Jewel’ partnership to strengthen Silversea future and enhance RCL Brand Lineup Royal Caribbean Cruises Ltd (RCL) represented by TIRUN Travel Marketing in India, announced an agreement to acquire a

Destinations

‘Lebanon is a perfect destination for Indians’

India plays an important role in promoting Lebanon as a tourist destination, says H.E. Rabie Narsh, Ambassador of Lebanon to India. In an interview, the ambassador said that the Lebanese

Trending

Al Hamra to celebrate the Ras Al Khaimah Happiness Festival

Ras Al Khaimah property developer, Al Hamra, is set to put a smile on the face of residents as part of Ras Al Khaimah’s (RAKs) inaugural Happiness Festival, by welcoming

Trending

Festival gift to people of Sindhudurg: Suresh Prabhu

A familiarization flight from Mumbai to Sindhudurg landed today at Parule Chipi Greenfield airport in Sindhudurg district of the Konkan region of Maharashtra. With this successful test flight access to

Latest

Etihad Airways reveals new First Class amenity kits

Etihad Airways has revealed its new First Class amenity kits, designed in partnership with two leading brands from the worlds of fashion and beauty: internationally renowned fashion designer Christian Lacroix,

Government

India’s oldest monorail comes back to life, to chug every Thursday

Railway officials say four such locomotives were imported by the erstwhile princely states to India, including one by the ruler of Patiala in 1908 from the United Kingdom. . The

Trends

ASI unearths hidden underground chamber in Red Fort

A hidden underground chamber has been recently uncovered by the Archaeological Survey of India (ASI) personnel in Red Fort. The ASI personnel stumbled upon this chamber when they were in

Latest

IndiGo enhances connectivity with new flights on its domestic network

IndiGo introduces its 1st daily flight from Varanasi to Goa (via Mumbai). Also commences its 1st daily non-stop flight between Kolkata and Varanasi. IndiGo, India’s largest and fastest growing airline

Trending

KTDC picks Cleartrip as exclusive online booking partner

Customers can now avoid long queues and book conducted tours and boat trips offered by KTDC through the Cleartrip website and mobile app. In a development that will delight travellers, Cleartrip

Slider

Plaza Premium Lounge honoured for its outstanding service and hospitality at Delhi Airport

Plaza Premium Lounge, the world’s largest independent airport lounge network, won “Hospitality of the Year Award” at GMR IGI Airport Awards, 2018. GMR IGI Airport Awards have been institutionalized to

0 Comments

No Comments Yet!

You can be first to comment this post!