Policy to utilise land bank with major ports

The Ministry of Ports, Shipping and Waterways (MoPSW) is considering leasing nearly 6000 acres of land controlled by state-owned ports to private investors for maximum 99 years and minimum 30 years, in order to advance port-led industrialization. The ministry agreed to draft a first of its kind PPP policy for industrialisation of land owned by major ports. The government aims to attract investments of over Rs.45000 Cr, which will help these ports generate revenues of Rs. 10,000 Cr. The draft policy which proposes a PPP model is being reviewed by industry stakeholders for promoting port led industrialisation.