India looks for PPP mode for port development
India is keen to take up public-private-partnership (PPP) route to meet its ambitious goal of achieving 230 million tonnes handling capacity of ports by 2020, more than three times the present level of 963 million tonnes. The Indian shipping ministry wants to develop 12 major and 176 non-major ports.
“The government has been paying utmost attention to developing the infrastructure with much higher investments in the past few years but the massive investment requirements in this sector cannot be met by the government alone. The private sector has to play a greater role in developing the infrastructure in the country in the coming years through PPP,” said shipping minister GK Vasan during the Invest Port conclave in New Delhi.
The government has been encouraging PPP in the ports sector to infuse funds, to induct latest technology and improved management practices, besides allowing 100 per cent foreign direct investment under the automatic route for port development projects.
The anticipated traffic at Indian ports is expected to be 2485 million tonnes by 2019-20 from the present level of 850 million tonnes at a growth rate of more than 11 per cent.