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Ministry of Ports, Shipping and Waterways has finalised guidelines for early resolution of stuck public private partnership projects at major ports, an official statement said on Wednesday. According to the statement, 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 rebidding," it said, adding that the move 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 the port authority will start generating revenue. The statement noted that the early resolution of stuck projects will repose confidence in investors and concessionaires, apart from creating job opportunities. In the past decade, the Centre had invited private investments into the sector and several .
Union minister Nitin Gadkari on Saturday said the government is targeting a pace of 50 km per day for national highways' construction in the country, and expressed hope that the pace in the current fiscal year will be higher than that in 2020-21. Addressing 'ET Global Business Summit' virtually, Gadkari said the government is giving highest priority to developing the road network near the border areas of Arunachal Pradesh, Himachal Pradesh and Jammu & Kashmir. "Now, we want to go up to (construct) 50 km per day (highway)," he said. The pace of national highway (NH) construction in the country touched a record 37 km per day in 2020-21. The road transport and highways minister said, this week he has signed a file to award contracts for construction of 1,000 km highway. Gadkari said due to COVID-induced disruptions, National Highways Authority of India (NHAI) and National Highways and Infrastructure Development Corporation Ltd (NHIDCL) faced some problems. "But still for this ...