The Minister of State for Shipping Shri
PonRadhakrishnan informed in a written reply to a question in Lok Sabha today
that The Shipping Ministry has introduced a Rs.4000 Crores Financial Assistance
Policy (FAP) for Indian shipyards for a period of 10 years, for contracts
secured between 01.04.2016 and 31.03.2026, Minister of state for shipping Pon
Radhkarishnan informed the Lok Sabha,.
a written answer to the house he said under this scheme financial assistance
equal to 20 per cent of the lower of "Contract Price" or the
"Fair Price" will be extended to Indian Shipyards for each vessel
built by them. This rate of 20 per cent
will be reduced by 3 per cent every three years. Provided that at the time of
release of financial assistance, if the actual payment received for a vessel is
lower than the contractual price or fair price then financial assistance will
be given on the actual payment received.
Aa many as One
hundred and forty-one (141) Memoranda of Understanding (MoU) were signed by
various stakeholders, covering different aspects such as procurement, setting
up of infrastructure facilities including construction of jetties, construction
of vessels, development of navigational aids, maritime education during the
Maritime India Summit held two years ago in Mumbai.
The number of MoUs
entered by stakeholders with different entities, including private entities,
are as follows: (a) Major Ports : 83 (b) Inland Waterways Authority of India
(IWAI) :5 (c) Directorate General of Lighthouses and Lightships (DGLL) : 4 (d)
Cochin Shipyard Limited : 3 (e) Shipping Corporation of India : 6 (f) Dredging
Corporation of India : 3 (g) Indian Maritime University : 6 (h) Maharashtra
Maritime Board : 11 (i) Gujarat Maritime Board : 9 (j) Tamil Nadu Maritime
Board : 1 (k) Petronet LNG : 2 (l) Indian Ports Rail Corporation Ltd.: 1 (m)
Bharat Earth Movers Ltd. (BEML): 1 (n)
Andaman LakshdweepHarbour Works: 2 (o) Others: 4.