Centre likely to identify five coastal shipping projects for PPP in FY24

The aim is to connect vital, high-demand economic areas which have an infrastructure deficit or traditional transport like roadways and railways that have reached saturation

As part of its plan to reorient national logistics, the Centre is likely to invite private participation in five coastal shipping projects with a provision of viability gap funding (VGF) in the approaching fiscal year (2023-24, or FY24), Business Standard has learnt.

This follows the announcement by Finance Minister Nirmala Sitharaman in her Union Budget speech.

“Coastal shipping will be promoted as the energy-efficient and lower-cost mode of transport, both for passengers and freight, through public-private partnership (PPP) mode with VGF,” she had said.

“Work is currently on to identify these five projects. The aim is to connect vital, high-demand