Maritime Newsletter

Maharashtra offers sops to develop minor ports - 2010-07-05

The Maharashtra Government expects an investment of Rs 22,775 crore in minor ports to enhance their cargo handling capacity to 254 million tonnes a year in five years. The government is banking on its revised minor port policy, which was announced on Thursday, to achieve the objectives. The policy offers a number of sops to the sector. Along with the ports, other maritime infrastructure such as multipurpose jetties and cargo terminals will get benefits under a package scheme of incentives for eight years. The policy also gives exemption on electricity duty, registration and stamp duty on infrastructure such as road, rail, water and power supply required for running the port. The chief minister announced an increase in wharfage from Rs 3 to 4 per tonne of cargo; and for containerised cargo from Rs 36 to Rs 48 per loaded TEU (twenty-foot equivalent unit). Under the policy, free right of way would be given on government land for supplying water and electricity to the ports. Construction material such as sand, earth and clay required for building of the ports has been given royalty exemption. The Maharashtra Maritime Board (MMB) has been declared as the special planning authority under the Maharashtra Regional and Town Planning Act, making its decision-making process more independent. The Chief Executive Officer of the MMB has been given the powers to acquire private land over 10 hectares.Source: Business Line