Gujarat to insure port assets
Last week, when a powerful quake measuring 8.2 struck near Indonesia’s Sumatra Island, it triggered tsunami warnings in Indonesia, Malaysia, India and Sri Lanka.
By TNN |
AHMEDABAD: Last week, when a powerful quake measuring 8.2 struck near Indonesia’s Sumatra Island, it triggered tsunami warnings in Indonesia, Malaysia, India and Sri Lanka. A coastline that runs 1,600 km has its own set of advantages and disadvantages. Though it is attracting huge investments, it is also facing the risk of natural calamities. Hence, the state government plans to insure all its port infrastructure.
“There is a need to have proper insurance for port infrastructure as Gujarat coast is prone to natural calamities such as cyclone, quake and floods,” said a senior government official.
This decision was taken in Gujarat Maritime Board’s (GMB) board meeting held last week, where policies like port package, industrial risk and standard fire were discussed. “Gujarat Maritime Board will require a tailor-made policy as per its requirement,” he said. “The GMB is in the process of determining the value of our assets,” said a senior government official.
Ports and SEZs were in focus at the Vibrant Gujarat Global Investors’ Summit early this year. The summit saw investments of Rs 13,518 crore in 22 different projects.
“There is a need to have proper insurance for port infrastructure as Gujarat coast is prone to natural calamities such as cyclone, quake and floods,” said a senior government official.
This decision was taken in Gujarat Maritime Board’s (GMB) board meeting held last week, where policies like port package, industrial risk and standard fire were discussed. “Gujarat Maritime Board will require a tailor-made policy as per its requirement,” he said. “The GMB is in the process of determining the value of our assets,” said a senior government official.
Ports and SEZs were in focus at the Vibrant Gujarat Global Investors’ Summit early this year. The summit saw investments of Rs 13,518 crore in 22 different projects.
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