The Union Minister of Shipping, Mr G. K. Vasan, informed the Lok Sabha recently that as per the current policy, port sector projects are awarded on public-private partnership (PPP) basis on build, operate and transfer (BOT) mode under the two stages bidding system. The private sector is allowed to participate in the competitive bidding process or BOT projects, and the projects are awarded to the highest bidder, he disclosed.
Currently, 29 private sector projects have been sanctioned and are in operation across the Major Ports. Twenty more private sector projects are currently under various stages of construction. In the current financial year, a target of 23 PPP projects has been fixed to be awarded on PPP basis, which are at different stages of planning and bidding, he said.
The Minister pointed out that private sector participation is allowed under the guidelines issued by the Ministry in October 1996, as amended from time to time, which allows foreign investors too, subject to necessary clearances of concerned authorities.
The Minister informed that the guidelines allow and encourage private sector participation in enhancing port capacities, modernisation of port equipment, etc. Hundred per cent FDI is allowed in the port sector, he added.
Currently, 29 private sector projects have been sanctioned and are in operation across the Major Ports. Twenty more private sector projects are currently under various stages of construction. In the current financial year, a target of 23 PPP projects has been fixed to be awarded on PPP basis, which are at different stages of planning and bidding, he said.
The Minister pointed out that private sector participation is allowed under the guidelines issued by the Ministry in October 1996, as amended from time to time, which allows foreign investors too, subject to necessary clearances of concerned authorities.
The Minister informed that the guidelines allow and encourage private sector participation in enhancing port capacities, modernisation of port equipment, etc. Hundred per cent FDI is allowed in the port sector, he added.
Source : Exim News Service - NEW DELHI, Sept. 5
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