Maritime fund to spur Rs 1.5 trn investment by 2030
By 2030, the Maritime Development Fund (MDF) is expected to generate Rs 1.3-1.5 trillion of direct and indirect investment, said Mr Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways. The government envisions establishing it with an initial target corpus of Rs 25,000 crore by 2030, with 49% equity investment from the Central government and 51% from Major Ports, financial institutions, private investors and sovereign funds, among others. Additionally, multilateral agencies and international development banks are potential partners for funding support. The government is working on its launch through a structured approach. Key aspects like the fund’s structure, the type of legal entity to be adopted for it, investment strategy, fund management framework, governance, compliance mechanisms, etc. are being finalised, as per a report.
source: Exim News Service: New Delhi, Feb. 6