Cabinet eases captive waterfront norms to spur private investment

NEW DELHI: Cabinet Friday approved a revision to the shipping ministry’s captive waterfront policy to accelerate private investment by providing greater operational certainty and allowing govt entities to obtain waterfronts on a nomination basis.

The revised Policy for Award of Waterfront and Associated Land to Port-Dependent Industries (Captive Policy) introduces a series of reforms aimed at improving operational flexibility and strengthening infrastructure development at major ports.