The Ministry of Shipping has proposed a new Model Concession Agreement (MCA) for the Port Sector. The proposed MCA will replace the existing Model Concession Agreement which came into existence in January, 2008. The proposed MCA has taken into account the suggestions provided in various reports by Member Planning Commission (2010), Indian Ports Association (IPA-2015) and Kelkar Committee Report (2015).
The objectives of the revised Model Concession Agreement are following:
a) More equitable allocation of project risks.
b) Provisions to handle unforeseen circumstances.
c) Removing ambiguity in existing provisions.
d) To attract more private sector investment.
