Maha makes changes in port policy to speed up development

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."