Union Cabinet has given in principle approval to set up a new major port at Vadhavan near Dahanu in Maharashtra. The total cost of the project is likely to be over 65 thousand crore rupees. Vadhavan port will be developed on land lord model.
A Special Purpose Vehicle, SPV will be formed with Jawaharlal Nehru Port Trust as the lead partner with equity participation equal to or more than 50 per cent to implement the project.
The SPV will develop the port infrastructure including reclamation, construction of breakwater, besides establishing connectivity to the hinterland. All the business activities will be undertaken under the public-private partnership mode by private developers.
The position of Jawaharlal Nehru Port is the biggest container port in the country and with the development of Vadhavan port, India will break into the countries with top 10 container ports in the world. Maharashtra has India’s largest container port at Jawaharlal Nehru Port Trust which caters to the hinterland of Maharashtra, North Karnataka, Telangana and secondary hinterland of Gujarat, Madhya Pradesh, Rajasthan, NCR, Punjab and Uttar Pradesh.