Guj govt announces new port policy, captive jetties to benefit

With a view to optimally utilise the 1,600 km-long coastline of Gujarat and to attract new investment into the port and maritime sector, the state government on Friday announced a new port policy, giving significant relaxations to the existing captive jetties.

As per the new port policy, all the 32 captive jetties on the coastline will now be allowed to handle third party cargo without any restrictions, a release issued by the Gujarat government said.

The government has introduced this new policy after a gap of 24 years as the previous one was issued in 1995.

In addition, owners of such captive jetties can make additional investment to increase the existing cargo handling capacity, it said.

Further, group companies are also allowed to use a captive jetty owned by one of the group entities.

To attract new investment into the port sector, the Gujarat Maritime Board would, from time to time, issue expression of interest from the interested parties.

Under the new policy, entrepreneurs need to make a minimum investment of Rs 300 crore to set up a facility capable of handling at least five million metric tonnes.

The policy mandates that new jetties must be constructed at least three kms away from any existing jetties.

Gujarat Chief Minister Vijay Rupani, who handles the ports portfolio, exuded confidence that the new policy would bring an investment of Rs 4,000 crore and create 25,000 new employment opportunities.

He added that the policy would augment the commercial port activities to 79.5 MMTPA, which would bring an additional income of Rs 400 crore for the government every year, the release said.