Port land for PPP investors
Chennai Seaport.
The Union Cabinet has approved the award of waterfront and associated land to port dependent industries in major ports and its operationalization.
The Policy will result in uniformity and transparency in the procedure for awarding captive facilities, said a government statement.
It will enable creation of new assets as well as utilization of currently un-utilised existing assets such as vacant berths at major ports.
Concession will be granted to Port Dependent Industries (PDI) for setting up dedicated facilities for import and/or export of cargo and their storage before transportation to their destination, for a period not exceeding 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 and associated land in ports will be used for construction of berths, offshore anchorages, transhipment jetties, single point moorings etc.
The latest policy supports the Sagarmala Programme and allows Public Private Partnerships (PPPs) for harnessing private sector investment and operational efficiencies in the provision of public utilities and services. fii-news.com
