Shipping Ministry is making rules for the ship recycling industry – which is at present at 4.5 million tonne per annum (mtpa) capacity and is expected to double by 2024.
“The Ship Recycling Act was promulgated in 2019, we are in the process of making rules for it,” Shipping Ministry Secretary Sanjeev Ranjan, said in a conference here on Thursday.
The move will make the recycling sector of India more eco-friendly in keeping with world standards. India will make efforts to bring more ships to India from Europe and Japan.
Incidentally, there are also plans to synchronise India’s vehicle scrapping with ship recycling. Indicating the potential business next year in the port sector, Ranjan said the operational services at ports will be put on a public private partnership mode, particulalry projects of up to ₹2,000 crore…
