Economy

Gujarat brings out new port policy

In a bid to boost infrastructure and attract investment in the port and logistics sector, the Gujarat government has revised its port policy brought out in 1995 and removed restrictions on 33 private jetties, allowing them to handle third party cargo.

The new policy allows the captive jetties to be full-fledged commercial ports across the 1,600-km-long coastline in the State. Gujarat Maritime Board (GMB), a nodal agency and port sector regulator in the State, is aiming at attracting approximately ₹4,000 crore of new investments in port-related infrastructure in the State.

“Gujarat has a coastline of about 1,600 km. It has four private ports along the coastline and 33 captive jetties, which handle about 45% of cargos, while private ports handle about 46% of total cargos handled by GMB ports. Emphasis was given to utilise the in-place capacity of captive jetties which are underutilised,” the preamble of the new policy stated.

Landing fees

As per the new policy, existing captive jetty holders will be permitted to handle third party cargo more than 50% of the total cargo on their captive jetty by paying landing and shipping fees.

Moreover, the jetty holders will also be allowed to bring in additional investment for augmenting cargo handling facility and back up areas.

According to GMB CEO Mukesh Kumar, the maritime board will invite new players to set up smaller ports with an initial investment of ₹300 crore.

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Printable version | Aug 12, 2020 4:16:08 AM | https://www.thehindu.com/business/Economy/gujarat-brings-out-new-port-policy/article29683260.ece

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