The Union Cabinet approved the construction of the Vadhavan Port in Maharashtra's Palghar district, with an investment of Rs 76,220 crore. The project will be developed as an all-weather Greenfield deep draft major port and will be constructed by Vadhavan Port Project Limited. The port will comprise nine container terminals, four multipurpose berths, and other infrastructure in PPP mode. The project also includes the reclamation of 1,448 hectares of sea area and development of road and rail connectivity to the port.
In a major economic move, the Union Cabinet has given the green light for the development of a new major port at Vadhavan, Maharashtra. With a whopping budget of Rs 76,220 crore, the port will be a game-changer for trade and commerce, creating a capacity of 298 million metric tons per annum. The project will also have significant implications for international trade routes, particularly the India Middle East Europe Economic Corridor (IMEEC) and the International North South Transportation Corridor (INSTC).
The Union Cabinet has given its approval for the construction of a major port in Vadhavan, Maharashtra. The project, which is estimated to cost Rs. 76,220 crore, will be carried out by Vadhavan Port Project Limited (VPPL), with Jawaharlal Nehru Port Authority (JNPA) and Maharashtra Maritime Board (MMB) as major shareholders. The port is expected to have a capacity of 298 million metric tonnes per year and will serve as an important link in the India-Middle East-Europe Economic Corridor (IMEEC). This decision aligns with the objectives of the PM Gati Shakti programme and is expected to create around 10 lakh job opportunities, contributing to the local economy.