"We will not be selling any land to builders, please do not have any such misconceptions," Gadkari told reporters.
Gadkari said MbPT, which holds excess land, will be discontinuing bulk cargo operations like handling coal and ores as they affects traffic and cause pollution in the city.
For car exports, state-run Cidco has identified land across the harbour in Navi Mumbai from where the operations can be handled, Gadkari said, adding this will also reduce the loads on roads in Mumbai.
The minister also said that his ministry is in the process of engaging an international consultant on how to best utilise this land and also invited suggestions from people.
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According to analysts, the land on the eastern seafront in space-crunched Mumbai possesses a big opportunity for the developers, but Gadkari's comments have put an end to speculations over utilisation of the same.
He said the liquid operations of the port, which generates over 65 per cent of the revenue, will continue.
"Nobody will be unemployed as a result of this and the port will not cease operations," he said.