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i-maritime News Service

Security agencies directed to fast-track port project clearance - 2013-05-31

The Cabinet Committee on Investment (CCI) today asked security agencies to fast-track clearances for port projects in the country. At a press briefing, Finance Minister P Chidambaram said that the CCI has directed the various security agencies to adhere to the 12 week timeline for grant of security clearances for the port improvement projects.

In the year 2012-13, 32 projects were awarded resulting in capacity addition of 136.75 MTPA (million tonnes per annum) and involving an investment of Rs 6,765 crore. In order to expedite the process of security clearance for port projects, the Ministry of Shipping has formulated guidelines for streamlining the procedure for grant of security clearance, which have been approved the Cabinet Committee on Security.

"According to these guidelines, security inputs have to be provided by the various security agencies within a period of 12 weeks, and once the security clearance is accorded, it is valid for three years, unless there is a change in shareholding pattern," said Mr. Chidambaram.

Ministry of Shipping plans to increase the country's port capacity to three billion tonnes from the present one billion tonnes. This would involve an investment of Rs 3 lakh crore by 2020, according to the government's maritime agenda for 2020.

Source: The Economic Times