India’s ministry of shipping has sought a 60 percent increase in fund allocation in the national budget 2022-23 to achieve the government’s target of doubling shipbreaking capacity at Alang yard in the western state of Gujarat, a government official said on Monday, January 24.
The official said that in the budget of last year the government had allocated INR 1 billion ($13 million) to facilitate the doubling of shipbreaking capacity at Alang and the ministry of shipping has sought a 60 percent increase in funds to achieve the goal in the budget to be placed before parliament on February 1.
The government last year stated that it targeted taking shipbreaking capacity at Alang to 4.5 million light displacement tons (LDT) by 2024.
According to industry estimates, in the current fiscal year to date Alang has handled 2.6 million LDT, up from1.63 million LDT in 2019-20.