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Initial permission for five years
with a provision for renewal for further period of 10 years
subject to fulfillment of all terms and conditions.
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Revival package for five years i.e.
1/10/2004 to 30/09/2009
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Minimum LDT 10,000 for five
years instead of previous 10000 LDT per year.
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Market rate premium is Rs. 400/-
per sq.m. 50% relaxation is given. Accordingly,
premium/development fees fixed @ Rs.200/- per sq.m. per
year.
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There is a provision for reservation
of plots to SC/ST category.
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GMB shall reserved 10 plots
admeasuring 60M x 45 M. for giving for recycling activities on
ship to ship basis.
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Amalgamated plots pursuant to policy
circular dtd. 4/10/2002 has been regularized subject to payment
of development charges @ Rs.500/- per sq.m. per year from the
date of grant of permission till 30/9/04.
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The permission holders belonging to
SC/ST category under Regulations 1994 shall be permitted to
continue to hold permission
under these Regulations, if such permission holders shall pay
all outstanding dues along with the interest @ 8% per annum.
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Rate of plot rent penalty has been
reduced. Previously there was a 25%, 50% and 100 % rate of
penalty . In new policy permission holder shall have to pay
penalty at the rate of prevailing Prime Lending Rate (PLR) along
with compound penal interest calculated at the rate of 4% per
annum.
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Ship Recycling (LDT) charges has
been reduced from Rs.108/- to Rs.100/-.
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As one time measure under new policy
free change in status, constitution, partners, directors etc. of
the permission holders is
allowed. Thereafter, transfer fee @ Rs. 400/- per sq.m. will be
charged.
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Existing permission holder can apply
for another plot by tender cum auction, which was restricted in
previous policy.
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VC & CEO shall convert the existing
smaller size plots admeasuring 30 M. x 45M. into bigger size of
plots.
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There is a provision for housing
colony for workers.
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In case of fatal accident, penalty
rates reduced.
Alang Ship
Recycling 
