In a significant step, the Maharashtra Cabinet has approved the changes in the Maharashtra Maritime Development Policy of 2016 to increase the period of the concession agreement for greenfield ports and multi-purpose jetties to 50 years from 35 now, says a report.
A press statement issued by the Chief Minister’s Office said that greenfield ports and multi-purpose jetty developers will have to make 100 per cent capital investment and handle 50 per cent cargo in the first 35 years.
Moreover, for developers of shipyards, the period of the concession agreement has been increased to 30 years from 10 years now. In the first 21 years of the agreement, the developers will have to make 100 per cent capital investment and reach 50 per cent target of shipbuilding and repairs, it said.
As for the jetties owned by the Maharashtra Maritime Board, the concession agreement period has doubled to 30 years. The developers of such jetties will have to handle 50 per cent cargo volume in the first 15 years. Such jetties will also be able to handle passenger and RoRo services.
In the latest policy changes, the nomenclature of the multi-purpose jetty has been changed to coastal berth for those who handle cargo for coastal shipping. For developing marine infrastructure on government land and the inter-tidal zone, the developer would be selected based on competitive bidding or through the Swiss challenge method, said the report.
With Maharashtra having the second-longest coastline among maritime states, and two major and 48 non-major ports, the policy has highlighted the opportunities for further improvement in maritime infrastructure, the report added.