India Greenlights Major Rs 76,200 Crore Vadhavan Port Project

The Union Cabinet approved the development of a Rs 76,200-crore greenfield deep draft major Port at Vadhavan, Maharashtra. The project, spearheaded by VPPL, will create significant employment opportunities and boost maritime trade. It includes core infrastructure, road and rail connectivity, and aims to align with PM Gati Shakti programme.

The Union Cabinet announced on Wednesday its approval for the development of a Rs 76,200-crore all-weather greenfield deep draft major Port at Vadhavan in Maharashtra, according to an official statement.

The ambitious project, to be constructed by Vadhavan Port Project Limited (VPPL)—a Special Purpose Vehicle (SPV) formed by the Jawaharlal Nehru Port Authority (JNPA) and Maharashtra Maritime Board (MMB)—will see a 74 per cent and 26 per cent shareholding, respectively. The port is set to rank among the top 10 ports globally, the statement added.

The development is expected to generate employment opportunities for 1.2 million people, said I&B Minister Ashwini Vaishnaw in a press briefing.

''With a total project cost of Rs 76,220 crore, including land acquisition, the Vadhavan Port initiative will encompass the development of core infrastructure, terminals, and other commercial infrastructure through public-private partnerships (PPP),'' the statement highlighted. It noted that the Cabinet, chaired by Prime Minister Narendra Modi, has also approved establishing road connectivity between the port and national highways by the Ministry of Road Transport & Highways, along with rail linkage to the existing rail network and the upcoming Dedicated Rail Freight Corridor by the Ministry of Railways.

The port will feature nine container terminals, each 1,000 meters long, four multipurpose berths, including a coastal berth, four liquid cargo berths, a Ro-Ro berth, and a Coast Guard berth. The project will involve reclaiming 1,448 hectares of the sea and constructing a 10.14 km offshore breakwater and container/cargo storage areas. The statement anticipates a cumulative capacity of 298 million metric tonnes (MMT) per annum, including approximately 23.2 million TEUs (twenty-foot equivalents) of container handling capacity.

The newly created capacities will 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 will promote public-private partnerships (PPP) and leverage modern technologies to create a state-of-the-art terminal capable of handling mainline mega vessels on international shipping routes between the Far East, Europe, the Middle East, Africa, and the Americas.

Aligned with the objectives of the PM Gati Shakti programme, the project is expected to boost economic activities and provide direct and indirect employment opportunities, thereby contributing to the local economy.

On the occasion, Ports, Shipping, and Waterways Minister Sarbananda Sonowal noted, ''Under the dynamic leadership of Prime Minister Narendra Modi, India is set to get its 13th major port at Vadhavan in Maharashtra.'' He added that this modern and state-of-the-art port is anticipated to be an engineering marvel, propelling economic growth and elevating India's maritime sector to global prominence.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)