India's port ministry finalises guidelines for reviving stressed projects
Ministry of Ports, Shipping and Waterways has finalised guidelines for early resolution of stuck public private partnership projects at major ports, an official statement said on Wednesday. According to the statement, the aim of the guidelines is to facilitate revival of the projects falling in the category of stressed assets, and these guidelines will pave the way for resolution of the cases under arbitration. "The port asset is likely to be put to use through rebidding," it said, adding that the move will result in unlocking the blocked cargo handling capacity of approximately 27 million tonne per annum (MTPA). It will create better trade opportunities for prospective investors and the port authority will start generating revenue. The statement noted that the early resolution of stuck projects will repose confidence in investors and concessionaires, apart from creating job opportunities. In the past decade, the Centre had invited private investments into the sector and several .
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Ministry of Ports, Shipping and Waterways has finalised guidelines for early resolution of stuck public private partnership projects at major ports, an official statement said on Wednesday.
According to the statement, the aim of the guidelines is to facilitate revival of the projects falling in the category of stressed assets, and these guidelines will pave the way for resolution of the cases under arbitration.
"The port asset is likely to be put to use through rebidding," it said, adding that the move will result in unlocking the blocked cargo handling capacity of approximately 27 million tonne per annum (MTPA).
It will create better trade opportunities for prospective investors and the port authority will start generating revenue.
The statement noted that the early resolution of stuck projects will repose confidence in investors and concessionaires, apart from creating job opportunities.
In the past decade, the Centre had invited private investments into the sector and several .
