India plans to lease out 9,035 acres of port land in Mumbai, Kolkata & Gujarat

February 28, 2020: In order to generate additional revenue, the Indian government led by Prime Minister Narendra Modi is planning to lease out around 9000 acres of port land in Mumbai, Kolkata & Gujarat to private companies.

“In the last week of January, the ministry of shipping made a presentation in this regard before the Prime Minister’s Office (PMO). The ministry is now readying the cabinet note to get the policy approved,” reported The Print.

The land now belongs to Mumbai Port Trust (625 acres), Kolkata Port Trust (1,490 acres) and Deendayal Port Trust (6,920 acres).

While the government is planning for long term leases, the government want private players to build residential and commercial infrastructure in this land which will be a great relief for space-crunched cities like Mumbai.