The Government of India signed a loan
deal worth $76 million with Japan International Cooperation Agency (JICA) today,
for a project to upgrade the environment management plan at
Alang-Sosiya ship recycling yards in Gujarat.
total cost of the project will be 111 million US million dollars, out of which
76 million US Dollars will be provided as soft loan from JICA. Out of the remaining
amount, 25 million US Dollars as taxes and fees will be borne by Government of
Gujarat and the balance $10 million will be shared by Ministry of Shipping
& Government of Gujarat. The project will be executed by Gujarat Maritime
Board (GMB) and is likely to be completed by 2022.
project will help the Alang-Sosia ship-recycling yards to comply with international safety & environmental regulations. This
will attract more business at the recycling facilities at Alang, thereby further
consolidating India’s share in the global ship-recycling industry.
project will also help in safeguarding the marine and coastal environment. The
use of advanced decontamination technology will rule out the possibility of
fire accidents in oil and chemical tankers, thereby ensuring workers safety.
project is expected to result in increase in direct employment from 50,000 to
92,000 people and in-direct employment from 1.5 lakhs to 3 lakh people.