Gujarat’s New Port Policy

Explanation :

• The Gujarat government announced a new port policy that removes restrictions on 32captive jetties operating in Gujarat, and turns them into commercial ports.
• This policy allows ports of any size more than five million metric tonnes, to be set up as a commercial port.
• It allows the existing 32 captive jetties in the state to handle “third-party” cargo without any restrictions.
• The existing 32 captive jetties handle cement, ammonia, sponge iron, crude, coal, gas and over-dimensional (cargo that protrudes beyond the loading deck) cargo, and the operation of RO-RO ferries (which transport cars and other road vehicles).
• Now, the captive jetty owners can now make investments in expansion and modernisation of these jetties. The government has also allowed them to handle cargo belonging to their group companies.

Impact

• The move is expected to boost infrastructure and attract investment in the port and logistics sector.
• The policy paves the way for the state to attract Rs. 4,000 crore fresh investments in the port sector.