New Delhi [India], June 22 (ANI): Senior Congress leader Jairam Ramesh on Monday asked the Shipping Minister Sarbananda Sonowal to furnish the details of private shareholding and competition in bidding for the International Container Transhipment Port (ICTP) at Galathea Bay under the Great Nicobar Project.

The Centre has planned to develop the transhipment port at Galathea Bay to reduce the dependence on foreign ports.

Alleging ecological devastation from the Great Nicobar Project, Jairam Ramesh asked if 100 per cent private shareholding will be allowed for building the transhipment port and whether the private ownership of ports will be diversified.

Referring to the meeting of the Public Private Partnership Appraisal Committee of the Finance Ministry in March 2026, the Congress MP said that the discussions stated that 'a minimum of 55 per cent shareholding in the project's special purpose vehicle is to be held by an Indian-Owned and Controlled entity' and that 'adequate competition may be ensured while setting eligibility criteria for the prospective bidders'.

He asked in the letter, 'Since the minimum private shareholding is to be 55 per cent, does it mean that 100 per cent private shareholding will be allowed, or is there a minimum shareholding by public entities as well? Is private ownership of ports to be diversified, or will the airports-like situation be permitted, where only one private company has acquired the six airports sold off so far? Since the PPPAC has turned down the Ministry's request for a Viability Gap Funding (VGF) grant, will the Ministry will provide VGF/capital grant support from its own allocated budget?'

Ramesh also sought the details of the timeline for the floating of tenders to invite private participation and the final selection of the private co-owner and operator.

Congress has been opposing the Great Nicobar Project, citing ecological concerns, while the government has maintained that the project has gained the necessary environmental clearances.

The project includes an International Container Transhipment Terminal (ICTT) with a capacity of 14.2 million TEU (Twenty-Foot Equivalent Unit), Greenfield International Airport (4000 Peak Hour Passengers-PHP), a 450 MVA (Megavolt Ampere) gas and solar-based power plant, and a new township spanning 16,610 hectares.

The project will be completed in three phases by 2047. (ANI)