Minister Urges Measures to Develop Ports (India)
Allowing FDI up to 100% under the automatic route for port development projects, Income tax incentives are among the steps being taken by the Government for capacity expansion of ports.
Other measures include- standardizing the bidding documents like RFQ, RFP and Concession Agreement, Enhanced delegation of financial powers to Shipping Ministry to accord investment approval for PPP projects, streamlining of security clearance procedures etc,.
Stateing this in a written reply in the Lok Sabha Shri G.K. Vasan, Union Minister for Shipping said 13 projects have been awarded so far at various Major Ports which will lead to capacity augmentation of 80.85 Million Tonnes Per Annum (MTPA) at an estimated cost of Rs. 3831.00 crores in the current year so far.
Press Release, December 17, 2013