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Union Shipping Minister Nitin Gadkari has set an ambitious target of capacity addition at 12 major ports by 120 million tonnes in 2016-17. These ports had added the highest-ever capacity of 94 million tonnes in 2015-16.
Mr. Gadkari has asked shipping ministry officials to aim for awarding new projects to add capacity of 180 million tonnes in the major ports over 2016-17, and ensure that new capacities for 120 million tonnes become operational during the year.
As per the targets, the operating margin for the major ports is set to increase to 44 per cent, compared to 39 per cent during 2015-16. The operating margins in 2014-15 stood at 35 per cent. The Minister has also directed officials to ensure that that overall operating margins increase by five percentage points compared to the previous fiscal, with the condition that no major port reports an improvement of less than one percentage one.
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