Union cabinet approves policy for award of waterfront and related land at major ports

The Union cabinet has approved the policy for the award and Operationalisation of waterfront and associated land to port-dependent industries (PDIs) at major ports. The policy, applicable to all major ports, will result in uniformity and transparency in the procedure for awarding captive facilities. Further, it will enable optimal utilisation of capacities at major ports and increase revenues earned by port authorities. The ambit of the policy includes the creation of new assets as well as the utilisation of currently unutilised existing assets such as vacant berths. Under the policy, concession will be granted to PDIs for setting up dedicated facilities at major ports for the import and/or export of cargo and its storage before transportation to its destination, for a period not exceeding 30 years.

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