Sagarmala investment target raised by Rs 1 trillion to Rs 6.5 trillion, project pipeline doubled

The Centre on Friday expanded the Sagarmala programme, a maritime equivalent to Golden Quadrilateral for highways, by adding 735 new projects worth a little over Rs 1 trillion. With this, a total of 1,537 projects worth Rs 6.5 trillion are to be developed under the programme, that aims at reducing logistics costs for both domestic and export-import cargo.

Of the new projects approved by an inter-ministerial committee, 567 projects entailing investments of Rs 58,700 crore are for coastal area development to bridge the gaps in infrastructure at the coastal areas. The remaining 168 projects worth Rs 41,300 crore are primarily for improving connectivity.