Kakinada: The proposed setting up of a Rs.25,000 crore corpus fund for maritime development, in the Union Budget presented on Saturday, will be a boon to Andhra Pradesh that has a long coastline.The state is already making efforts to set up ship-building units. The budget states that “shipbuilding financial assistance policy will be revamped to address cost disadvantages and it would also include Credit Notes for Ship-breaking in Indian yards to promote the circular economy.”Large ships above a specified size will be included in the infrastructure-harmonised master list and shipbuilding clusters will be facilitated to increase the range, categories and capacity of ships. This will include additional infrastructure facilities, skilling and technology to develop the entire ecosystem.The budget proposals stated, “Towards long-term financing for the maritime industry, a Maritime Development Fund would be set up and it will be for distributed support and promoting competition, and will have up to 49 per cent contribution by the government. The balance will be mobilized from ports and the private sector.”The AP Maritime Board has already started the efforts to set up shipbuilding units and held discussions with the Union government twice. The Centre will conduct a survey in the state to choose the clusters. State maritime board CEO Praveen Adhithya told Deccan Chronicle that the government is conducting a survey with Visakhapatnam Port Trust. It would choose the location andmodels.Besides, to set up big shipbuilding yards in the state, a delegation is coming to AP from two Korean companies. “To set up a shipbuilding yard, there should be a backup system, technical feasibility location etc. It will be chosen by the survey agencies.Notably, Hindustan Shipyard and some private companies are already running shipyards in Visakhapatnam. However, the environmentalists can’t appreciate the setting up of ship-breaking units. Previously an attempt was made at Kakinada Coast, but the locals raised protests and the companies backtracked.
Source link
