The Government of Maharashtra has encouraged development of port sector and adopted an investor-friendly Port Policy. The port policy has evolved over the years with considerable changes during 1996, 2000, 2002. The salient features of the port policy are:
Development on Build, Own, Operate, Share and Transfer (BOOST) basis
Concession period of 50 years
Concessional Wharfage on cargo handling at port
If available, Govt. land on lease at market valuation
Equity participation in SPV by MMB up to 11%
Whereas, road linkage to nearest State Highway are to be partly funded by the State, development of roads within port limits will be the responsibility of developer.
Freedom given to developer to fix tariffs
Government to appoint two Directors on SPV company formed for port development
Upcoming ports in Maharashtra
In our endeavour to develop the port sector for meeting the requirements of India’s growing economy and to address the needs of its industry, we have entered into six Concession Agreements for development of minor ports, namely:
