NEW DELHI: According to an official document, the Ministry of Ports, Shipping, and Waterways, Government of India has approved rules for early resolution of delayed public-private partnership (PPP) projects at key ports. The goal is to assist the resurrection of projects classified as stressed assets, and they will open the road for the resolution of cases under arbitration.
It said, ”The port asset is likely to be put to use through re-bidding.” This will result in the release of a cargo handling ability of about 27 million tonnes per year that has been prohibited, while improving trading opportunities for potential investors and allowing port authorities to generate cash. Early settlement of stalled projects, according to the statement, will restore investor and concessionaire confidence while also creating job prospects.
Over the last decade, the Centre has encouraged private investment in the country’s sea ports, and numerous projects have been awarded under the design, built, finance, operate, and transfer (DBFOT) model. At key ports, the operating projects have increased capacity by roughly 350 MTPA. By 2025, 31 projects worth Rs 14,500 crore would be granted through asset monetization.