 "import, export")
As the Centre faces a number of stranded port projects, the ministry of ports, shipping and waterways has revised the guidelines for resolution of PPP projects that have been abandoned midway by the concessionaire.
Under the new guidelines, the port can make partial payment amounting to the value of useful work completed by the concessionaire for projects that were under construction and take over the project. Moreover, the revised guidelines also empower ports to bid for abandoned projects undergoing insolvency proceedings at the National Company Law Tribunal (NCLT).
The issue has come to light after several projects sanctioned under PPP
