The Maharashtra government Tuesday made some amendments in its port development policy to effectively implement it, including reducing wharfage fee by 50 per cent.
The decisions were taken in a cabinet meeting chaired by Chief Minister Devendra Fadnavis.
A CM Office statement said, "Earlier wharfage fee, which was three times, will be reduced to 1.5 times. For greenfield port or multi-purpose jetty, the concession agreement period has been increased from 35 years to 50 years. For this, the developer has to have 100 per cent capital investment for a period of 35 years and achieve target of 50 per cent cargo handling."
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