Plan for Rs 3,400cr investment in ports

mumbai: the government is considering private sector investment of rs 3,400 crore in ports even as it proposes to bring major and minor ports under a single regulatory authority, secretary in the ministry of shipping, m p pinto said on thursday. "already rs 4,000 crore have been invested by the private sector in ports and another rs 3,400 crore is under consideration," pinto said, addressing a seminar organised by bombay chamber of commerce & industry here. "privatisation should lead to additional business because if we just share the existing business without increasing the same then an important area is missed," the secretary added. pinto said container freight station can also be privatised. ports were also seen moving towards the ''landlord'' concept. "i do not believe that such a move poses a security threat as the port authority still remains the owner while the private party gets to handle the terminal," he added. referring to the concept of a single regulator, he said, "we have to work out a system to bring the major and minor ports under one regulator, which need not be the tariff authority of major ports." captive ports and fishing jetties could be excluded from the jurisdiction of such a regulator, he added. on corporatisation of ports, pinto said a bill has been introduced in parliament. initially the government would go in for corporatising new ports like jawaharlal nehru port and tuticorin, he added.