New Mangalore Port Authority’s profit expected to touch ₹450 crore during 2023-24, says chairman A.V. Ramana

NMPA Chairman A.V. Ramana announced that the port is expected to earn a profit of ₹450 crore in 2023-24. The port is working with the State govt. to launch a day heli taxi service for cruise passengers. The port's contribution to local economy is seen through cruise passengers spending US$150 per head per visit. The Union Minister of State for Agriculture and Farmers’ Welfare Shobha Karandlaje said that the integration of agriculture with India’s maritime sector is a path towards sustainable growth. The Global Maritime India Summit (GMIS) 2023, hosted by NMPA, will bring together pivotal figures from the industry to explore opportunities and stimulate investment.

The chairman of New Mangalore Port Authority (NMPA) A.V. Ramana said here on Sunday, August 20, that the authority is expected to earn a profit of ₹450 crore during 2023-24.

Speaking at the Karnataka region curtain raiser of Global Maritime India Summit (GMIS), 2023, scheduled at Delhi for three days from October 17 at NMPA, he said that the port’s profit after tax during 2022-23 stood at ₹375 crore.

He said that the port is working with the State government to launch day heli (helicopter) taxi service for cruise passengers calling at the port. Such passengers can take off from the port, visit nearby tourist destinations and return to the ship by evening to sail out.

The chairman said that the cruise vessels berthing at the port contributed for the growth of local economy as their passengers went on local tour. A cruise passenger locally spent at least US$ 150 per head per visit.

He said that the road connectivity to the port from the hinterland is an issue and the same is likely to be addressed by February 2024 as the pending works of widening of the National Highway 66 between B.C. Road and Hassan on Bengaluru-Mangaluru highway is likely to be completed by then.

The Deputy Commissioner of Dakshina Kannada M.P. Mullai Muhilan said that Mangaluru should emerge as the gateway for tourism in Karnataka. Mangaluru should be promoted as the centre of excellence for port, maritime research and industry. An ecosystem should be created for developing the city as multi-modal logistic hub, he said.

The Union Minister of State for Agriculture and Farmers’ Welfare Shobha Karandlaje said that the integration of agriculture with India’s maritime sector is not merely an economic strategy, but a visionary path towards sustainable growth. “Through partnerships, innovations, and steadfast commitment, we will continue to nourish the roots of our nation’s prosperity,” she said.