Seacoast Shipping Services board updates on new projects in Gujarat

25 Feb 2022 , 11:49 AM

The Board of Directors of Seacoast Shipping Services Ltd has taken note of acceptance mail received from the Government of Gujarat for the proposal of the Company to work with the Government of Gujarat in Joint Venture. The Board has also decided to make further agreement with the Government to process the said Joint Venture, said company in a filing  on Thursday.

Major Key highlights of the said proposed are as under:

• Development of Kharaba land into CFS in Joint Venture with Gujarat Government so as to facilate export and imports in Morbi/Navlakhi, Vatva or Changodar Area, Palanpur Belt, Kandla and Mundra as there is huge container movement of Imports and Exports where the cargo is moved to port by road.
• Coastal Connection from Navlakhi and Jamnagar to kandla and Mundra by barge services to reduce the road movement as road movement is 180 KMS. Whereas by sea its just 45 K.Miles and at one go barge can carry upto 70 containers which will reduce the pollution on road and will be more cost effective.
• India has potential of ports and Ship breaking but we Indians have never given thought of developing Ship building or dry-Docking for repairs and Maintenance of Ships.

Commenting on the occassion, the company said, “Looking to the above the Company hope to get the Good business opportunity from the Government of Gujarat.”

At around 11:51 AM, Seacoast Shipping was trading at Rs14.70 per piece higher by 6.14% on Sensex.