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New concession pact to ease port projects

Posted on: February 15, 2018 | Back | Print

New concession pact to ease port projects

 

The Cabinet approved amendments to the model concession agreement (MCA) to make port projects more investor-friendly and make investment climate in the sector more attractive. For existing port projects, the Government has formed a panel under Finance Minister Arun Jaitley to iron out implementation issues.

Shipping Minister Nitin Gadkari said contractual issues or other such hurdles in the execution of the existing 10-12 port projects would be resolved by the committee headed by Jaitley, which would have representatives from the NITI Aayog and the Ministry of Law and Justice. (Business Standard: January 04, 2018)