Connect with:
Saturday / July 20. 2024
HomeAgroPolicyCabinet approves setting up of Rs 76,200 Cr Major Port at Vadhavan in Maharashtra

Cabinet approves setting up of Rs 76,200 Cr Major Port at Vadhavan in Maharashtra

On completion, Vadhavan Port will be one of the top 10 ports of the world.

The Union Cabinet, chaired by Prime Minister Narendra Modi, approved setting up a Major Port at Vadhavan near Dahanu in Maharastra. 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, Palghar District, Maharashtra.

The total project cost, including the land acquisition component is Rs.76,220 Crore. This will include development of Core infrastructure, Terminals and other commercial infrastructure in public-private partnerships (PPP) mode. The cabinet also approved establishing the road connectivity between the Port and National Highways by Ministry of Road Transport & Highways and rail linkage to the existing rail network and the upcoming Dedicated Rail Freight Corridor by Ministry of Railways.

The Port will comprise nine container terminals, each 1000 meters 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 tons (MMT) per annum, including around 23.2 million TEUs (Twenty-foot equivalents) of container handling capacity.

The capacities created will also aid EXIM trade flow through 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 terminal capable of handling mainline mega vessels 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 of the world.

The Project, aligned with the objectives of PM Gati Shakti program, will add to further economic activity and also have the potential for direct and indirect employment opportunities for around 12 lakh individuals, thereby contributing to the local economy.

No comments

leave a comment