Ports need cash push for growth | india | Hindustan Times
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Ports need cash push for growth

india Updated: Mar 15, 2012 23:54 IST
HT Correspondent

As a part of its capacity augmentation and efficiency improvement programme, the Indian ports sector needs Rs 1.6 lakh crore in investments, the Survey has said.

"Capacity augmentation and efficiency improvement would require increased investment from the private sector, particularly for mechanisation of cargo handling, improvements of drafts at the ports, strengthening port connectivity by building road and rail links, and technology up gradation and automation," the Survey said.

The Survey pointed out that congestion at major ports - presently 12, is costing time and money.

While cargo handling is projected to increase at all ports, the government proposes to develop two new major ports - one each on west and east coasts and build facilities for the full mechanisation of cargo handling and movement, and two hub ports each on west and east coasts - Mumbai (JNPT), Kochi, Chennai and Vishakhapatnam.

"It would be a challenge to garner 80% (Rs 1.2 lakh crore) of the required investment through public-private partnership (PPP)," the Survey said.

The proposed policy measure also targets corporatisation, formulation of new land policy and establishing of a port regulator for all ports.

Port and offshore operations are expected to contribute and provide a support level for the sector's total sales.