India simplifies port investment rules

India simplifies port investment rules

India’s convoluted port bidding process has long stymied investments in the sector with many of the biggest names in global terminal operations often thwarted from taking concessions in the world’s largest democracy due to arcane rules. The government has finally got around to fixing the issue with the shipping ministry yesterday unveiling a new model concession agreement (MCA) in a bid to attract more private sector investments.

The new proposals claim to have a more equitable allocation of project risks, as well as removing the ambiguity of existing provisions and allow investors to exit after a shorter period of time if they want to.

The proposals have been posted on the ministry’s website and officials are looking for comments on them before they are promulgated.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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