Cabinet eases captive waterfront norms to spur private investment

The Cabinet approved a revised shipping ministry policy for captive waterfronts to accelerate private investment and provide greater operational certainty.

Existing captive users can develop additional berths, jetties, terminals, and Single Buoy Moorings (SBMs) to meet enhanced requirements.

The policy extends concession periods to up to 30 years for government entities and allows them to obtain waterfronts on a nomination basis without competitive bidding.

Around 24 captive waterfront facilities existed as of last year.

The policy aims to improve ease of doing business in the port sector without financial implications for the government.