According to the existing security clearance norms, the company can now bid for all port projects in the country,” a senior official in the ministry of shipping told ET.
Essar Ports on Thursday said that the company's net profit quadrupled to Rs 331.55 crore during the year ended March 31 as compared to Rs 63.95 crore in the year ago period.
Great Offshore had earlier sought an extension on repayment until April 2013 when it was due in October, but the bondholders did not approve.
The ministry has made a recommendation to the cabinet committee of secretaries to introduce the interest subvention scheme, the official added.
Currently, the country's dredging sector is dominated by Dutch multinationals and the lone public sector entity is Dredging Corporation of India.
L.Radhakrishnan, Chairman of JNPT, is likely to step down from his post, and is likely to become Home Secretary in Kerala.
Union shipping ministry will unveil a new policy to de-regulate the tariff fixed at major ports in the country and fix market-linked tariff at ports.
The shipping ministry had a planned outlay of Rs 14,770 crore for the year-ended March 31, but could only award projects worth 6,303.19 crore during the period.
A Metropolitan Magistrate court in Mumbai has summoned the top management of logistics major Arshiya International for non-payment of dues to lessors.
India Rating and Research on Monday downgraded Marg Group owned Karaikal Port's bank loans worth Rs 1884 crore to IND C from IND BB.
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