The Mormugao Port Authority’s efforts to generate new revenue streams by selling institutions and prime property have failed, as no buyers have been found. The idea to outsource the Deepvihar Primary School, the 100-bed hospital, and the old administrative building for 30 years, as well as to lease out 50,000 square meters of good land for storage and a hotel in the port town, failed. Nonetheless, in the upcoming year, port authorities have prioritized the monetization of some of these assets.
The port is currently assessing the reasons behind the private sector’s reluctance after attempts to auction off two land parcels where bulk liquid cargo can be stored failed. Additionally, port authorities believe that the request for proposals issued by the port does not get a lot of attention and traction.
If it is successful, the MPA intends to test the demand for a more diverse range of cargo movement and acquire an extra source of income. Since the state’s iron ore mining was shut down, the MPA’s revenue has gradually decreased. Low cargo volumes, a decline in market share, and a lack of funding for essential infrastructure upgrades have been the port’s problems. The port is struggling to stay profitable and is frantically looking for new source.
