Union Cabinet chaired by Prime Minister Narendra Modi 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 % and 26 %, 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.
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