Question: Recently the Sagarmala Development Company has been inaugurated by Minister of Shipping and Road Transport & Highways Nitin Gadkari in which of the following city?
(a) New Delhi
(b) Mumbai
(c) Patna
(d) Greater Noida
Ans: (a)
Related facts:
- On 26 December 2016 Minister of Shipping and Road Transport & Highways Nitin Gadkari has inaugurated the Sagarmala Development Company in New Delhi .
- The Sagarmala Development Company (SDC) has been incorporated under the Companies Act, 2013.
- The company has an initial Authorized Share Capital of Rs. 1,000 Crore and a subscribed share capital of Rs. 90 Crore.
- The main objective of the company is to identify port-led development projects under the Sagarmala Programme and provide equity support for the project Special Purpose Vehicles (SPVs) set up by the Ports / State / Central Ministries and funding window and /or implement only those residual projects which cannot be funded by any other means / mode.
- The implementation of the identified projects would be taken up by the relevant Ports, State Governments/Maritime Boards, Central Ministries, through private or PPP mode.
- The Company would act as the nodal agency for coordination and monitoring of all the currently identified projects under Sagarmala as well as other projects emerging from the master plans or other sources.
Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=155840