Latest News | Centre Not Handing over Major Ports to Private Parties: Mandaviya
Get latest articles and stories on Latest News at LatestLY. The Centre is not handing over major ports to private parties and has only sought private sector participation in projects on PPP mode, Parliament was informed on Monday.
New Delhi, Mar 22 (PTI) The Centre is not handing over major ports to private parties and has only sought private sector participation in projects on PPP mode, Parliament was informed on Monday.
India has 12 major ports which handle over 60 per cent of the EXIM cargo.
"Central Government is not handing over ports to private parties. Private sector participation has been allowed in Major Ports on Public Private Partnership (PPP) basis for specific projects/berths/terminals, through concession agreement for a specific period...," Ports, Shipping and Waterways Minister Mansukh Mandaviya told the Rajya Sabha in a written reply.
The private sector participation will be by way of bidding process and on a revenue sharing or royalty sharing basis between the developer and the major port authority for specific terminals/assets within the port premises, he said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)