LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

FM-chaired body to look into stalled Rs 20K cr port projects

About 12 shipping projects, including in Kandla and Visakhapatnam ports, have been stuck for long on account of various problems

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
FM-chaired body to look into stalled Rs 20K cr port projects
Gadkari said a meeting in this regard has been scheduled for next week
Updated: Wed, Jan 03, 2018
09:06 pm
PTI
RELATED NEWS
Modi government creates RECORD! New feat achieved in highways construction - Nitin Gadkari confirms this Modi government creates RECORD! New feat achieved in highways construction - Nitin Gadkari confirms this
India’s first Diesel-converted CNG Tractor launched! Nitin Gadkari says it will help farmers save more than Rs 1l akh on fuel annually—Top features India’s first Diesel-converted CNG Tractor launched! Nitin Gadkari says it will help farmers save more than Rs 1l akh on fuel annually—Top features
Govt looking at new plans, laws to solve MSME receivables issue: Gadkari Govt looking at new plans, laws to solve MSME receivables issue: Gadkari
Nitin Gadkari lays foundation stone for over Rs 13,000 crore highway projects in Telangana Nitin Gadkari lays foundation stone for over Rs 13,000 crore highway projects in Telangana
MSMEs alert! Digital Saksham initiative LAUNCHED - How it will benefit small businesses, explains Nitin Gadkari MSMEs alert! Digital Saksham initiative LAUNCHED - How it will benefit small businesses, explains Nitin Gadkari

A high-powered committee chaired by Finance Minister Arun Jaitley will look into the issues plaguing stuck shipping projects worth up to Rs 20,000 crore, Union minister Nitin Gadkari said today.
About 12 shipping projects, including in Kandla and Visakhapatnam ports, have been stuck for long on account of various problems that include contractors abandoning the same.
The decision to form the high-level committee was taken in today's Cabinet meeting, Shipping Minister Gadkari said.
"A committee will be formed ... There are 11-12 projects in the shipping sector, which are stuck for long. The committee will decide on such projects," Gadkari said.
He said the projects entail an estimated investment of Rs 10,000-20,0000 crore.
The committee, headed by Jaitley, will comprise the law minister, shipping minister and a Niti Aayog representative.
Gadkari said a meeting in this regard has been scheduled for next week.
He also said the new model concession agreement (MCA), revised after 2008 and approved by the Cabinet, will attract much more investments in the shipping sector.
The new MCA is more investor-friendly and has several new features like change in revenue model as well as replacing the "actual project cost" with "approved project cost".
Also, payment of royalty for the ports will be now on basis of per million tonne of cargo handled instead of percentage of gross revenue based on tariff determined by the Tariff Authority for Major Ports (TAMP).
It also has an exit clause on par with highway projects that allows developers to hold 51 per cent equity until two years after commercial operation date, after which they could exit by way of divesting their equity of up to 100 per cent.
The minister said that the amendments are keeping in view the experiences in public-private partnership (PPP) projects in the port sector during the last two decades. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Nitin Gadkaristalled port projectsGovernmentArun Jaitley
RELATED NEWS
Modi government creates RECORD! New feat achieved in highways construction - Nitin Gadkari confirms this Modi government creates RECORD! New feat achieved in highways construction - Nitin Gadkari confirms this
India’s first Diesel-converted CNG Tractor launched! Nitin Gadkari says it will help farmers save more than Rs 1l akh on fuel annually—Top features India’s first Diesel-converted CNG Tractor launched! Nitin Gadkari says it will help farmers save more than Rs 1l akh on fuel annually—Top features
Govt looking at new plans, laws to solve MSME receivables issue: Gadkari Govt looking at new plans, laws to solve MSME receivables issue: Gadkari
Nitin Gadkari lays foundation stone for over Rs 13,000 crore highway projects in Telangana Nitin Gadkari lays foundation stone for over Rs 13,000 crore highway projects in Telangana
MSMEs alert! Digital Saksham initiative LAUNCHED - How it will benefit small businesses, explains Nitin Gadkari MSMEs alert! Digital Saksham initiative LAUNCHED - How it will benefit small businesses, explains Nitin Gadkari

LATEST NEWS

Rakesh Jhunjhunwala stock: This Big Bull holding gets a target hike I Details here

PUBG Mobile Lite Season 22 Update: Check release date, timings, APK download link and MORE!

Yes Bank Share price today: Technical and Fundamental Analysis I Investec cuts target price to Rs 19

RRB NTPC Exam 2021 Admit Card released on rrbkolkata.gov.in —Check details

XLRI Placements 2020, 2021: 100% jobs! Check highest salary, average package and name of companies, top recruiters

GST collections rise 7 pc to Rs 1.13 lakh cr in Feb

IRCTC Share price: Dolat Capital initiates coverage on IRCTC share with target of Rs 2650

Gold Price Today 1-03-2021 – Despite fall in prices, Indian consumers not benefitting as much; expert tells why

Chelsea and United draw, Liverpool win as top-four battle heats up

Poor offtake, high pithead stock hurting Coal India production, say sources

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved