Ministry of Ports, Shipping and Waterways has finalised guidelines for early resolution of stuck public private partnership (PPP) projects at major ports, according to an official document.

As per the official document accessed by PTI, the aim of the guidelines is to facilitate revival of the projects falling in the category of stressed assets and these guidelines will pave the way for resolution of the cases under arbitration.

"The port asset is likely to be put to use through re-bidding," it said, adding this will result in unlocking the blocked cargo handling capacity of approximately 27 million tonne per annum (MTPA). It will create better trade opportunities for prospective investors and port authority will start generating revenue.

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The document noted that the early resolution of stuck projects will repose confidence in investors and concessionaires and also generate employment opportunities.

In the past decade, the Centre had invited private investment into the major ports sector and several projects were awarded under design, built, finance, operate and transfer (DBFOT) basis across major ports in the country.

Currently, 34 major ports of over Rs 27,000 crore are operational and 25 projects of Rs 14,000 crore are under implementation. The operational projects have added capacity of around 350 MTPA at major ports. Under asset monetisation, 31 projects of Rs 14,500 crore are to be awarded by 2025.

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(Edited by : Anand Singha)