Market News
Global Port Infrastructure Market: Key Developments
- In April 2016, Government of India has released the “Sagarmala National Perspective Plan” at the maiden Maritime India Summit 2016, with details on Project Plan and Implementation. Sagarmala National Perspective Plan is the Indian government’s flagship program to promote port infrastructure development in the India country.
- In June 2019, The U.S. Department of Transportation (DOT) has announced a Notice of Funding Opportunity (NOFO) for $292.7 million in discretionary grant funding through the new “Port Infrastructure Development Program”. This new program aims to support public coastal ports by improving the safety, efficiency or reliability of goods movements.
- In May 2019, GT USA Wilmington has received a 50-year concession to operate the port infrastructure and to invest $600 million to upgrade and expand the port terminal. The port is working on upgrading cargo throughput capacity from 350,000 TEUs to 600,000 TEUs (Twenty Foot Equivalent Unit), along with new capacity for roll-on/roll-off cargo.
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