Maharashtra to secure Rs 760 billion Vadhavan Port project

20 Jun 2024 CW Team

Maharashtra is set to bag a substantial infrastructure boost with the anticipated approval of the Rs 760 billion Vadhavan Port project by the Cabinet chaired by PM Modi, as reported by the source. Located in Palghar district, Vadhavan Port benefits from natural depth and strategic proximity to inland clusters, positioned near upcoming dedicated freight corridors that promise reduced maintenance costs. The project aims to implement advanced cargo-handling systems aimed at minimising environmental impact.

The new port will be developed in two phases under the landlord model, in accordance with government policy, by Vadhavan Port Project Ltd. This entity is a joint venture between Jawaharlal Nehru Port Authority Ltd., holding a 74% stake, and the Maharashtra Maritime Board.

Preliminary approval for the project was granted by the central government on February 13, 2020, with the terms of reference approved on October 7 of the same year. The Dahanu Taluka Environment Protection Authority subsequently endorsed the port on July 31, 2023. (Source: NDTV Profit)

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