New Delhi, Mar 22 (PTI) The Centre is not handing over major ports to private parties and has only sought private sector participation in projects on PPP mode, Parliament was informed on Monday.
India has 12 major ports which handle over 60 per cent of the EXIM cargo.
"Central Government is not handing over ports to private parties. Private sector participation has been allowed in Major Ports on Public Private Partnership (PPP) basis for specific projects/berths/terminals, through concession agreement for a specific period...," Ports, Shipping and Waterways Minister Mansukh Mandaviya told the Rajya Sabha in a written reply.
The private sector participation will be by way of bidding process and on a revenue sharing or royalty sharing basis between the developer and the major port authority for specific terminals/assets within the port premises, he said.