Minister: India Reaches Port Sector Target
Around Rs.21,000 crores have been invested in 30 projects during the current year, achieving the target set by the Prime Minister’s Office for the Port sector.
Capacity addition is around 217 million tones. Giving details of the achievements of his ministry, the Minister for Shipping Shri G. K. Vasan said that over the last five years of his tenure in this ministry, several policy initiatives relating to tariff structure, security clearances and environmental clearances for project approvals have been taken. With these initiatives, the capacity of the major ports has increased to 800 million tonnes now from 575 million tonnes in 2009.
The minister said that today the port sector has become the best example for PPP mode of development.
With tariff reforms, there has been very good response for the PPP projects from the industry in the port sector.
During the last four years, 88 new projects have been approved with an investment of Rs.42,953 crores leading to additional capacity of 558 MTPA.
As of today, 36 PPP terminals are in operation in Major Ports, while another 34 are under construction. He said that the Fourth Container Terminal in JNPT project, which is the largest project in the Port sector in India, was awarded to a Singapore based Company yesterday.
Through this project the container handling capacity of JN Port will be more than doubled.
Through this agreement for JNPT’s Fourth Container Terminal, the government would also receive around 36% revenue share and Ennore Container Terminal got 37% revenue share.
A multi cargo berth in Ennore also received 36% revenue share, which is considered very good. Efforts have also been made to deepen all the Major Ports so that large vessels can call on them.
The minister said that the new Land Policy Guidelines for Major Ports had been announced to bring in transparency and accountability in leasing of Port lands.
He pointed out that the Ministry of Shipping is the only Ministry to have a sector specific Land Policy Guideline approved by the Cabinet.
Press Release, February 28, 2014