Overview of the Project
The Union Cabinet has greenlit the development of a state-of-the-art deep draft major port at Vadhavan in Maharashtra, with an estimated investment of Rs 76,200 crore. This ambitious project aims to bolster India’s maritime infrastructure significantly.
Partnership and Structure
The port will be developed by Vadhavan Port Project Limited (VPPL), a joint venture between the Jawaharlal Nehru Port Authority (JNPA) and the Maharashtra Maritime Board (MMB), holding 74% and 26% stakes respectively, as confirmed by an official statement.
Project Scope and Infrastructure
The project is slated to position Vadhavan Port among the top 10 ports globally. It is expected to create extensive employment opportunities, benefiting approximately 1.2 million individuals, according to Minister of Information and Broadcasting, Ashwini Vaishnaw.
Financial and Operational Details
“The total project cost, inclusive of land acquisition, amounts to Rs 76,220 crore,” the statement detailed. It emphasizes the development of core infrastructure, terminals, and commercial facilities under public-private partnerships (PPP).
Key Features of the Port
The port layout will include:
- Nine container terminals spanning 1,000 meters each
- Four multipurpose berths, including a coastal berth
- Four liquid cargo berths, a Ro-Ro berth, and a Coast Guard berth
Infrastructure Development
The project involves reclaiming 1,448 hectares of sea area and constructing a 10.14 km offshore breakwater, alongside container and cargo storage facilities.
Strategic Importance
Strategically positioned, the port aims to handle 298 million metric tonnes (MMT) per annum, accommodating around 23.2 million TEUs (twenty-foot equivalents) of container traffic. It will enhance EXIM trade via the IMEEC (India Middle East Europe Economic Corridor) and INSTC (International North South Transportation Corridor).
Technological Advancements and Economic Impact
Designed to foster public-private partnerships (PPP) and deploy cutting-edge technologies, the port is poised to handle mainline mega vessels on international routes linking the Far East, Europe, the Middle East, Africa, and the Americas.
Aligning with National Initiatives
Aligned with the PM Gati Shakti initiative, the project aims to stimulate economic growth, generate employment opportunities, and bolster the local economy significantly.
Ministerial Perspective
Ports, Shipping, and Waterways Minister Sarbananda Sonowal highlighted, “Under Prime Minister Narendra Modi’s visionary leadership, India is set to establish its 13th major port at Vadhavan in Maharashtra.” He emphasized the port’s role in advancing India’s economic prowess and maritime sector globally.