Ports operations to be privatized by 85 per cent in the next 6 years

The Union Ports Ministry has identified 20 projects worth Rs 6,761 crore, which it will lease to private-sector operators under the National Monetization plan for 2024. Minister for Ports, Shipping and Waterways Sarbananda Sonowal said

Out of these, four projects valued at Rs 1,581 crore have already been approved and are under the bidding process, Sonowal said..

Out of the 81 public-private partnership projects worth Rs 42,400 crore identified under the National Monetisation Pipeline, 14 valued Rs 10,750 crore have been awarded so far. For FY24, 20 projects have been identified under the NMP valued at Rs 6,761 crore, of which four projects valued at Rs 1,581 crore have already been approved and are under the bidding process.

Some of the high-value projects we are focusing on include – Outer Harbor at Tuticorin Port worth Rs 7,055 crore, Multi Cargo Berth at Kandla Port valued Rs 1,719 crore and Berth 7&8 at Kolkata Port having estimated project cost of Rs 865 crore.

56.5 per cent of cargo in major ports are now handled through PPP mode and the government’s target is to reach 85 per cent by 2030. We are doing this by converting the operations across major ports from the ‘service model’ to the ‘landlord model’. In 2023, Jawaharlal Nehru Port Authority became the first 100 per cent landlord major port. The private investment has brought in contemporary technologies for better operations and also improved volumes of EXIM trade.