Union Minister of Shipping, Shri G.K. Vasan informed the Lok Sabha in a written reply to a question that as per the current Policy, Port Sector Projects are awarded on Public Private Partnership (PPP) basis on Built, 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. At present 29 Private Sector Projects have been sanctioned and in are operation across the Major Ports.
20 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.
The Minister said 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 also subject to necessary clearances of concerned authorities.
The Minister further informed that the guidelines for private sector participation in the Major Ports issued in October, 1996 allows and encourage private sector participation in enhancing port capacities and modernization of Port equipments etc. 100% FDI is allowed in Port Sector, he added.
Source: PIB
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