Policy for awarding Waterfront and associated lands in major ports approved

Posted on:28 Jul 2016 18:18:54
Policy for awarding Waterfront and associated lands in major ports approved
28 July 2016 Current Affairs: The Union Cabinet has approved the Policy for awarding waterfront and associated land to port dependent industries in major ports along with its operationalization on 27 July 2016.The Policy will result in uniformity and transparency in the procedure for awarding captive facilities. It will enable optimal utilization of capacities in major ports and increase revenue to the Major Port Authority. 

Highlights of the Policy : The ambit of the Policy includes creation of new assets as well as utilization of currently unutilised existing assets such as vacant berths. The Policy will be applicable to all the Major Ports. Under the Policy, concession will be granted to Port Dependent Industries (PDI) for setting up dedicated facilities in Major Ports for import and export of cargo for maximum 30 years. 

Extension of concession period on conditions including under utilization of asset as per the Concession Agreement may be allowed. After a maximum of 30 years of operation, the waterfront land in a Major Port will be allotted for construction of berths, offshore anchorages, transhipment jetties, single point moorings etc.

It will be as per the terms and conditions of the Concession Agreement (CA) to be entered into between the Port Authority and the PDI concerned.

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