No plan to privatize profit-making industrial units: Gadkari

Last Updated: Wed, Oct 31, 2018 11:59 hrs
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Kochi: Union Minister for Road, Transport and Highways Nitin Gadkari on Tuesday laid the foundation stone for India's largest Dry Dock at Cochin Shipyard here and said that the central government has no plans to privatize profit-making industrial units in the country.

Also present on the occasion was Kerala Chief Minister Pinarayi Vijayan.

Expected to generate employment opportunities for around 2,000 people, the Dry Dock is being constructed at a cost of Rs 1,799 crore and will be completed by May 2021.

Speaking on the occasion, Gadkari said that the Centre is not planning to privatize profit-making industrial units. He lauded the contributions of Cochin Shipyard in the field of skill training in shipbuilding.

He added that the central government has a plan to invest in Inland Waterways in Kerala.

Vijayan said the Cochin Shipyard has played a key role in the economic development of the state.

He added that the new initiative would further boost the economic prospect of Kerala and India's share in the global shipping industry will rise to two per cent.