Govt's port monetisation drive delayed due to security clearance
PORTS & SHIPPING

Govt's port monetisation drive delayed due to security clearance

Centre’s ambitious drive for port monetisation has gotten off to a rocky start with the MoPSW (Ministry of Ports, Shipping and Waterways) being able to award projects worth 14 per cent of the total target amount in 2021-22. It has been able to monetise three projects worth Rs 10 billion, falling short of the target of Rs 69.24 billion from the 13 projects for this fiscal year. The national monetisation pipeline for ports encompasses nine of the country’s 12 major ports.

The 13 projects have been processed but have yet to get security clearance from the Ministry of Defence, Ministry of External Affairs and Ministry of Home Affairs since the projects fall in strategic areas. Reportedly, there has been an active interest in the tenders that have been floated for monetisation of several port operations, with the ministry being optimistic about its monetisation drive in the current and upcoming fiscal years, despite delays in security clearances.

Centre’s ambitious drive for port monetisation has gotten off to a rocky start with the MoPSW (Ministry of Ports, Shipping and Waterways) being able to award projects worth 14 per cent of the total target amount in 2021-22. It has been able to monetise three projects worth Rs 10 billion, falling short of the target of Rs 69.24 billion from the 13 projects for this fiscal year. The national monetisation pipeline for ports encompasses nine of the country’s 12 major ports.The 13 projects have been processed but have yet to get security clearance from the Ministry of Defence, Ministry of External Affairs and Ministry of Home Affairs since the projects fall in strategic areas. Reportedly, there has been an active interest in the tenders that have been floated for monetisation of several port operations, with the ministry being optimistic about its monetisation drive in the current and upcoming fiscal years, despite delays in security clearances.

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