The Dredging Corporation of India (DCI), Jawaharlal Nehru Port (JNPT) and Ennore Port (EPL) will together raise around Rs 3,500 crore through tax-free infrastructure bonds, reports thehindubusinessline.com.
Regarding this plan, P. K. Sinha, the Union Shipping Secretary stated: “They should issue the bonds early next year.”
While JNPT will issue the bonds for Rs 2,000 crore to finance its dredging work, the EPL will raise Rs 1,000 crore for the dredging project on the channel and berths, for the construction of the new berths and for the building of the road and rail connectivity, according to thehindubusinessline.com.
The Dredging Corporation of India will raise Rs 500 crore to procure a new dredger.
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Dredging Today Staff, December 23, 2012; Image: dredge-india.nic