Indianmandarins has reliably learnt that the Government is all set to advertise new posts of Managing Director and two posts of full-time Director for a newly incorporated public sector company ‘Sagarmala’. The posts may be advertised immediately after the Union Shipping Minister Nitin Gadkari clears the file meant for deciding the eligibility, qualification, terms & conditions for the appointment to the aforesaid posts.
The company incorporated on August 31, 2016.
Reportedly, the ministry has already taken an exemption from the PESB route to find full-time directors for ‘Sagarmala’ including an MD. A Search-cum-selection-committee headed by PESB Chairman Ajit Seth will steer the process of selection which will be ratified by the ACC under PM.
In addition, two Independent Directors and one Govt nominee may also be selected for ‘Sagarmala’.
Sagarmala aims at modernizing the country’s ports to augment a port-led development. It also aims at transforming the existing ports into modern world class organization and integrate the development of the Ports, the Industrial clusters and hinterland and efficient evacuation systems through road, rail, inland and coastal waterways resulting in Ports becoming the drivers of economic activity in coastal areas. On 25 March 2015, the Cabinet approved this project to develop 12 ports and 1208 Islands. The objective is to harness 7,500-km long coastline, 14,500-km of potentially navigable waterways and strategic locations on key international maritime trade routes.