New Delhi: In an attempt to bring back investor interest in port projects, the shipping ministry has released a long-term development plan for the sector envisaging investment of more than R2.78 lakh crore by year 2020. The plan, which covers both central and state sector projects, would leave projects worth R1.09 lakh crore for bidding by private companies in major ports alone providing long-term investment opportunities in the sector.

The exercise has been forced upon the shipping ministry given a lukewarm response to projects put out for bidding so far this year. The ministry had planned awarding of 23 projects in the current financial year but managed to bid out only one till December-end due to a poor response from companies.

Chennai Port had put out a R3,700-crore mega container terminal twice but received only one bid—from Mundra Port and Special Economic Zone. It will call fresh bids by the end of this month...