Gujarat government gives approval for Nargol port development in PPP mode

The Gujarat government has approved the development of a greenfield port at Nargol in south Gujarat, through PPP mode, with an extended build-own-operate-transfer period of 50 years, rather than the usual 30 years. This is expected to present the potential port developer with an assurance for greater return on investment. Nargol is envisaged to be a multifunctional port capable of managing solid, liquid and container cargo. It is estimated to cost Rs 38 billion in the first phase.