BUSINESS

Separate policy for utilising assets of 3 ports

The Centre is set to frame a separate policy to enable India’s three land-rich major port trusts to utilise their assets, a senior government official said here on Thursday. The three ports are Mumbai Port Trust, Kandla Port Trust and the Kolkata Port Trust.

Indications are that the Shipping Ministry would ready a cabinet note on this matter by this year after getting the land-use plans of the port trusts. KoPT expects to unlock an annual revenue stream of Rs.1,000 crore, if it is allowed to utilise its assets.

KoPT Chairman, R.P.S. Kahlon said that as directed by the Ministry, the KoPT will submit by November, a land-use plan to its parent Ministry. The plan is being readied by the Jadavpur University and would be completed by this month-end. “We will add our observations and submit the document,” he told reporters.

KoPT, which is the among the largest land-owners in the eastern region, has 10,943 acres in Kolkata and Haldia (it has two dock complexes) in Paschim Medinipur. Of this, around 4,180 acres is under the port’s own use and 4,033 acres is under tenancy leases. There are also 1,200 pending land related cases which the KoPT is trying to settle out of court. Around 2,724 acres is lying vacant, some in prime and posh areas.

“The issue has been flagged with the Ministry and JU is now preparing a land use plan to evolve a model for realty development while beautifying the river-front,” Mr. Kahlon said.





Recommended for you