New Delhi: The shipping ministry has granted approvals to 88 new projects worth Rs42,953 crore in the last four years, shipping minister G.K. Vasan told reporters on Friday. The capacity at major ports has gone up from 575 million tonnes in 2009 to 800 million tonnes during the same period. Ports have also benefited from a revised tariff policy.

“Tariff hikes have been allowed based on achievement of performance standards. This has enthused the industry and the investors which is reflected in the renewed interest shown by all big majors in port PPP projects," the ministry said in a brochure released on Friday. PPP is short for public-private partnerships (PPPs).