The government on Thursday unveiled a new policy for the Shipping sector that entails an investment of Five lakh crore rupees by 2020 to take the ports capacity to 3,200 Metric Tonnes.Shipping Minister G K Vasan said this in New Delhi while launching the New maritime policy. He said, out of the 5 lakh crore rupees investment proposed in the sector, 3 lakh crore rupees will be in the port sector, while the remaining 2 lakh crore rupees will be infused in the Shipping sector. Elaborating other initiatives to be taken under the new agenda, Mr Vasan said the Government will set up two more major ports in the coutry – one each on the East and West coast, in addition to the existing 13 Major ports. The government is also working on a new land policy for major ports and would soon appoint a port regulator to keep a vigil on port operations. The minister added that the Shipping Ministry plans to give more autonomy to the ports by vesting them with powers to fix their own tariff base on the prevailing market conditions. He asserted that the ministry will make all attempts to control piracy through concerted international action.