The work on new major ports will begin this year as the Government has taken up eight new major ports in the country in edition to the existing 12. The work on three ports at Wadhwan in Maharastra, Sagar in West Bengal and Colachel in Tamil Nadu will begin during this year while five other are under process of finalisation. <br/><br/>Stating this at a press conference in the ongoing Maritime India Summit, Shipping and Road Transport Minister Nitin Gadkari said, the three ports will have about 25 thousand crore rupees. He said all-out efforts will be made to complete the ambitious Sagarmala programme within five years despite its intended ten year.<br/><br/> He further said, one lakh crore rupees will be spent in port modernisation alone adding that the logistic costs will come down by about 8 per cent from the present 18 per cent and double the port handling capacity to about 3000 million tonnes per annum by 2025. 21 Memoranda of Understanding to a tune of over 35,000 crore rupees were signed on the first day of the summit yesterday, while 27 other MoUs will be singed today between Public Sector and Business partners.