<p>Indian Railways expects incremental revenue of at least Rs 30,000 crore per annum from freight services when 300 Gati Shakti cargo terminals become operational, the national transporter said on Thursday.</p>.<p>At least 65 entities have expressed interest in building cargo terminals, Union railway minister Ashwini Vaishnaw told media persons in the national capital. Private entities had been asking for a 35-year renewable licence for cargo terminals on railway land, he said.</p>.<p>The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved a policy for long-term leasing of railway land for the PM Gati Shakti programme, which the government said will help set up 300 cargo terminals and generate 1.25 lakh jobs.</p>.<p>The new policy will help provide land leases for a longer period of up to 35 years, as against the five years at present, Vaishnaw said.</p>.<p>To this effect, the Union Cabinet also lowered the railway land licence fee from 6 per cent to 1.5 per cent and raised the lease period from five years to 35 years.</p>.<p>The railway minister explained that increasing the licensing period will attract more investments toward setting up cargo terminals.</p>.<p>He said all existing terminals, including Concor (Container Corporation of India) and other PSUs, already had a 30-year-lease policy. “We are not changing terms and conditions for any existing cargo terminals, including those operated by PSUs,” the minister said.</p>.<p>According to him, the focus should be on multi-modal development of cargo terminals. “The government wants to give a level playing field to all. New entrants and existing ones will have to enter through competitive bidding processes,” he said.</p>
<p>Indian Railways expects incremental revenue of at least Rs 30,000 crore per annum from freight services when 300 Gati Shakti cargo terminals become operational, the national transporter said on Thursday.</p>.<p>At least 65 entities have expressed interest in building cargo terminals, Union railway minister Ashwini Vaishnaw told media persons in the national capital. Private entities had been asking for a 35-year renewable licence for cargo terminals on railway land, he said.</p>.<p>The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved a policy for long-term leasing of railway land for the PM Gati Shakti programme, which the government said will help set up 300 cargo terminals and generate 1.25 lakh jobs.</p>.<p>The new policy will help provide land leases for a longer period of up to 35 years, as against the five years at present, Vaishnaw said.</p>.<p>To this effect, the Union Cabinet also lowered the railway land licence fee from 6 per cent to 1.5 per cent and raised the lease period from five years to 35 years.</p>.<p>The railway minister explained that increasing the licensing period will attract more investments toward setting up cargo terminals.</p>.<p>He said all existing terminals, including Concor (Container Corporation of India) and other PSUs, already had a 30-year-lease policy. “We are not changing terms and conditions for any existing cargo terminals, including those operated by PSUs,” the minister said.</p>.<p>According to him, the focus should be on multi-modal development of cargo terminals. “The government wants to give a level playing field to all. New entrants and existing ones will have to enter through competitive bidding processes,” he said.</p>