GOVERNMENT move to relax payment of royalty by pvt firms

The Centre is set to give concession in royalty or revenue share payable by private firms handling transhipment and coastal containers in major ports to promote container transhipment and coastal shipping in India. The relaxation in payment of royalty or revenue share by Public-Private Partnership (PPP) operators at major ports on transhipment and coastal containers will be made applicable to existing terminals and upcoming projects, an official briefed. The move will benefit the global container transhipment terminal run by Dubai’s DP World at Vallarpadam in Cochin Port

Trust. It was developed to cut India’s dependence on regional hubs and help save extra time and costs, but has failed to live up to expectations.