Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved setting up a major port at Vadhavan near Dahanu in Maharashtra.
The project will be constructed by Vadhavan Port Project Limited (VPPL), an SPV formed by Jawaharlal Nehru Port Authority (JNPA) and Maharashtra Maritime Board (MMB) with a shareholding of 74 per cent and 26 per cent, respectively. The Vadhavan Port will be developed as an all-weather greenfield deep draft major port in Vadhavan in Palghar district of Maharashtra.
Briefing reporters after a meeting of the union cabinet, Information and Broadcasting Minister said the all-weather Greenfield deep-draft Major Port at Vadhavan will be an integral part of the IMEEC (India-Middle East-Europe Economic Corridor).
“It will be constructed by the joint venture of Jawaharlal Nehru Port Authority and Maharashtra Maritime Board… It will be one of the top 10 ports in the world,” he said.
An official release said that the total project cost, including the land acquisition component, is Rs. 76,220 crore.
This will include the development of core infrastructure, terminals and other commercial infrastructure in a public-private partnership (PPP) mode.
The cabinet also approved establishing road connectivity between the port and national highways by the Ministry of Road Transport and Highways and rail linkage to the existing rail network and the upcoming Dedicated Rail Freight Corridor by the Railways Ministry.
The port will comprise nine container terminals, each 1000 metres long, four multipurpose berths, including the coastal berth, four liquid cargo berths, a Ro-Ro berth, and a Coast Guard berth.
The project involves the reclamation of 1,448 hectares of area in the sea and the construction of 10.14 km of offshore breakwater and container/cargo storage areas.
The project will create a cumulative capacity of 298 million metric tonnes (MMT) per year, including around 23.2 million TEUs (twenty-foot equivalents) of container handling capacity.
The release said that the capacities created will also aid EXIM trade flow through the IMEEC (India Middle East Europe Economic Corridor) and INSTC (International North South Transportation Corridor).
“The world-class maritime terminal facilities promote public-private partnerships (PPP) and leverage efficiencies and modern technologies to create a state-of-the-art terminals capable of handling mainline megavessels plying on international shipping lines between the Far East, Europe, the Middle East, Africa and the Americas. Vadhavan Port, on completion, will be one of the top ten ports in the world,” the release said.
It said the Project, aligned with the objectives of the PM Gati Shakti programme, will add to further economic activity and also have the potential for direct and indirect employment opportunities for around 10 lakh individuals, thereby contributing to the local economy.
(This news report is published from a syndicated feed. Except for the headline, the content has not been written or edited by OpIndia staff)
