SME Times is powered by   
Search News
Just in:   • GST collections see 8.9 pc YoY growth at Rs 1.87 lakh crore in October  • India ties: Trump has track of engagements, Harris's record sparse littered with Kashmir statement  • Delhi's air quality plummets to 'very poor' category  • Mahindra Auto records highest ever SUV sales in Oct, overall auto growth up 20 pc  • Investors' wealth surges by Rs 128 lakh cr in Samvat 2080, Gold gives 32 pc return 
Last updated: 04 Jan, 2018  

nitin-gadkariTHMB.jpg Govt to form committee to clear stalled port projects

Exports.9..jpg
   Top Stories
» GST collections see 8.9 pc YoY growth at Rs 1.87 lakh crore in October
» Mahindra Auto records highest ever SUV sales in Oct, overall auto growth up 20 pc
» Investors' wealth surges by Rs 128 lakh cr in Samvat 2080, Gold gives 32 pc return
» Apple sets all-time revenue record in India, to open 4 new retail stores: Tim Cook
» Online shopping up in S. Korea in Sept over strong food delivery demand
SME Times News Bureau | 04 Jan, 2018
The Centre on Wednesday said it was planning to constitute a committee to make port projects more investor-friendly and to improve investment climate in the sector while clearing several stalled port projects.

The Union Cabinet chaired by Prime Minister Narendra Modi approved amendments in the Model Concession Agreement (MCA) which envisage constitution of the Society for Affordable Redressal of Disputes-Ports (SAROD-PORTS) as dispute resolution mechanism similar to provision available in highway sector, a statement said.

"Just like roads, several port projects were stalled due to lack of governmental approvals. Centre has decided to set up a committee to look after these projects," Shipping Minister Nitin Gadkari told reporters in New Delhi.

As per the revised MCA, developers would be provided exit route by way of divesting their equity up to 100 per cent after completion of two years from the Commercial Operation Date (COD).

"This is now similar to the MCA provisions of highway sector," the statement said.

It added that concessionaires would now be free to deploy higher capacity equipment, facilities and technology, and carry out value engineering for higher productivity and cost saving.

"The amendments have been proposed keeping in view the experience gained in managing Public Private Partnership projects in port sector during the last twenty years and to obviate the problems being faced on account of certain provisions in the existing MCA," it said. 

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Will the new MSME credit assessment model simplify financing?
 Yes
 No
 Can't say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter