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States » SouthPosted at: Aug 17 2022 11:38PM


New MCA 2021 will be a game changer : Yesho Nayak

Visakhapatnam (Andhra Pradesh), Aug 17 (UNI) Union Minister of State for Ports, Shipping & Waterways (MoPSW), Shripad Yesho. Nayak on Wednesday highlighted that the government’s emphasis on Port-led Development, and ensuing plans for commissioning projects under Sagarmala, inland Waterways and Smart Port cities requires Private Investments which is possible through PPP.
In his inaugural address at the Maritime PPP Conclave being organized by Visakhapatnam Port Authority (VPA) here to celebrate the 25th anniversary of the 1st OOO project in the Port sector, Yesho Nayak said that in the existing PPP Model Concession Agreement (MCA), there are 4 main issues - Levying accountability on the concessioning authority: Need for flexibility in specifying minimum guaranteed cargo (MGC): Sharing of project risks: Absence of a grievance redressal mechanism.
To address all these issues, MoPSW has brought in new MCA 2021, which will be a game changer in the PPP in Port Sector, he said.
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