India: JNPT Hopes to Raise Funds for Dredging

The Jawaharlal Nehru Port Trust is hoping to raise Rs 2,000 crore from the low-cost tax-free bonds window in the current fiscal year.

“We have written to the government for raising Rs 2,000 crore by issuing the tax-free bonds during 2012-13,” Jawaharlal Nehru Port Trust chairman L Radhakrishnan stated.

According to him, the port will use Rs 1,500 crore for its impending dredging project, while the remaining will be used for its upcoming logistics special economic zone.

The Jawaharlal Nehru Port, which handled over 65 per cent of the container traffic last year, went ahead with the dredging project, which aims to increase the depth of the port channel to 13 meters from the present 10 meters.

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Dredging Today Staff, May 7, 2012;