NEW DELHI: The Indian Private Ports & Terminals Association (IPPTA), the apex body representing the interests of India's private ports and terminals, has urged Shri Sarbananda Sonowal, Minister of Ports, Shipping and Waterways, to extend provisions in the New Model Concession Agreement for existing concessionaires.
IPPTA aspires to ensure that private ports and terminals play a vital role in growing the country's maritime sector to global standards. In India, 37 PPP projects with a total investment of Rs 29,000 crore are currently being implemented.
IPPTA, in a letter to the Minister, stated that existing PPP Operators are having a difficult time because the Concession Agreements are rigid and cannot be changed during the 30-year concession period. This has led to creation of numerous strained projects, and some more are on the verge of difficulty, unless prompt remedial efforts are not implemented. The government has been made aware of the problem areas in the Concession Agreements on a regular basis.
In the letter, IPPTA also mentioned that the government has taken the initiative to draught a new Model Concession Agreement (MCA) in light of the challenges that existing concessionaires are experiencing.
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