Key Points
Prime Minister Narendra Modi-led Cabinet on Wednesday approved the development of greenfield deep draft port at Vadhavan in Maharashtra for Rs 76,200 crore..
The port will have nine container terminals, each 1000 meters long, four multipurpose berths, including the coastal berth, four liquid cargo berths, a Ro-Ro berth, and a Coast Guard berth...
The mega 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, said the official statement..
The cabinet also approved establishing the road connectivity between the Port and National Highways by Ministry of Road Transport & Highways and rail linkage to the existing rail network and the upcoming Dedicated Rail Freight Corridor by Ministry of Railways...
"The Project, aligned with the objectives of PM Gati Shakti program, will add to further economic activity and also have the potential for direct and indirect employment opportunities for around 10 lakh individuals, thereby contributing to the local economy," the statement said..
