Tuesday, September 28,
India is looking at investing about $ 20.8 billion in 276 projects which are part of the Government’s endeavor to expand 13 major ports in the country, said Shipping Minister, G K Vasan.
Addressing an ‘Indian Port and Maritime’ seminar, Vasan said 22 projects are ready for bids as the country’s pressing on increasing the port capacity, mostly through public and private sector participation (PPP).
“Private partnership is the key feature of the port development program and we are expecting good investments to come from private sector with a high proportion from overseas investors,” he said, adding that India’s port development program has already attracted interest from many overseas investors like Port of Singapore Authority and the Dubai Port World.
Currently 22 PPP projects are under bidding and scheduled to be awarded in the current financial year involving an investment of almost Rs 160 billion.
The minister also disclosed that mega Container Terminals have been planned in Vallarpadam, Chennai, JNPT and Ennore, implementation of which would provide opportunities in the logistics business.
Source: The Economic Times
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