Provisions for allotment of waterfront and land on a captive basis to port based industries including PSUs
GN Bureau | December 2, 2016
The shipping ministry held a consultation meeting with various stake holders on ‘Policy for Award of Waterfront and Associated Land to Port Dependent Industries in Major Ports’. The policy was approved by the cabinet earlier this year and is aimed at bringing uniformity and transparency in the procedure for awarding captive facilities at ports.
The meeting was attended by various stakeholders from companies such as Indian Oil Corporation Ltd, Bharat Petroleum, Mangalore Refinery and Petrochemicals Limited, Adani Ports, SEPC Power Pvt Ltd, NTPC and industry bodies ASSOCHAM and CII.
The companies were encouraged to submit proposals regarding their industrial requirements at various ports which will be studied and worked upon by the shipping ministry of shipping.
Under the existing guidelines for private sector participation in major ports, provisions were made for allotment of waterfront and land on a captive basis to port based industries including central/state public sector undertakings (PSUs) which fulfilled the prescribed eligibility criteria.
Under the new policy, concession will be granted to port dependent industries for setting up dedicated facilities in major ports for import and/or export of cargo and their storage before transportation to their destination, for a period not exceeding 30 years.
The policy will be applicable to all the major ports.
Allocation of waterfront and associated land to port based industries on PPP/captive basis is one of the major areas which have been identified by the shipping ministry for participation/investment by the private sector in major ports. The government has focused on port led development through the Sagarmala program as a key enabler for economic growth.
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