IMG to design model pact for pvt-public ties in port sector

The Prime Minister’s committee on infrastructure has decided to constitute an inter-ministerial group (IMG) for designing a model conce...

The Prime Minister’s committee on infrastructure has decided to constitute an inter-ministerial group (IMG) for designing a model concession agreement, which would lay down the regulatory framework for private-public partnership (PPP) in the port sector.

It has estimated that investments worth Rs 50,000 crore would be required for development of ports by 2012, of which a major chunk is expected to come through PPPs.

Announcing this at a press conference here on Friday, Planning Commission Deputy Chairman M.S. Ahluwalia said IMG would be asked to submit its report by August.

Advisor to the deputy chairman, Gajendra Haldia said a 20-year perspective plan for the development of the 12 major ports was being framed. For this, international experts would be hired as consultants, who would give their inputs on improvement of port capacities by August. The plan will be ready by February 2006. Detailing the Rs 50,000-cr investment for port development in seven years, he said Rs 5,000 crore would be generated through internal resources, and major support would be required through PPPs. For developing a world class port for JNPT, investments of Rs 10,000 crore would be required.

Rajnath Singh warned Pakistan that every inch of its land is within BrahMos’ range as India rolled out its first missiles from Lucknow.

Every inch of Pakistan’s territory now within BrahMos reach: Rajnath Singh

Cities27 min ago

Rajnath Singh warns Pakistan about the reach of the BrahMos missile, praises ‘Operation Sindoor’ and the missile’s technological superiority. He and CM Yogi Adityanath flag off the first batch of BrahMos missiles made in Lucknow, emphasizing their economic impact and thanking Adityanath for his support.

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