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Cabinet Approves Changes To Railway Land Lease Policy
The move is seen to facilitate Concor's divestment and make it more attractive to private investors
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The Union Cabinet on Wednesday cleared issues around the Container Corporation of India (Concor) Land Lease Fee, cutting the fee from 6 per cent to 1.5 per cent, a media report stated. The report added that it approved the changes for a revised railway land lease policy.
Apart from the reduction in land licence fee, the lease period has also been increased to 35 years, the report stated.
The move is seen to facilitate Concor's divestment and make it more attractive to private investors.
The move would help strategic buyers pay much less for land rentals to railways for extended periods. Investment advisors had proposed this change earlier.
Concor's disinvestment was approved in November 2019, with the government proposing to offload 30.8 per cent of its shareholding and transfer management control.