Prime Minister Narendra Modi laid the foundation stone of the Vadhvan Port project on Friday, August 30. The Vadhvan Port is set to be operational by 2030.
Vadhvan Port is located in the Palghar district of Maharashtra and is India's largest deep-water port. Its investment is ₹76,220 crore.
The port is strategically located 150 km from Mumbai and will have a capacity of 300 mta with 9 container terminals and 4 multipurpose berths.
The Jawaharlal Nehru Port Authority and Maharashtra Maritime Board will hold 74 per cent and 26 per cent shares of the construction costs for the Vadhvan Port project. This project will include developing core infrastructure, terminals, and other commercial infrastructure through the public-private partnership (PPP) mode.
The port aims to boost India’s connectivity with Central Asia and Russia through the International North-South Transport Corridor (INSTC) and India-Middle East-Europe Economic Corridor (IMEC).
It is estimated that the Vadhvan Port will lower some pressure on Jawaharlal Nehru Port, the largest container-handling port in India. The Vadhvan port will connect the Dedicated Freight Corridors with the Delhi-Mumbai Industrial Corridor.
According to the government, the port will add 1 per cent of GDP to Maharashtra's economy and generate 12 lakh direct jobs and one crore indirect jobs.
Additionally, the government conceived the port as a green port. It aims to balance economic growth with environmental stewardship to support India’s blue economy and ensure the economic and social development of coastal communities in Maharashtra, the government said.
"... In 2020, a decision was also taken to build a port here. But after that the government changed and no work was done here for 2.5 years. This project alone is estimated to bring an investment of several lakh crore rupees here. About 12 lakh employment opportunities will be created here. Who had objections to this development of Maharashtra? Who were these people who did not want the youth of Maharashtra to get employment? Some people want to keep Maharashtra behind, whereas our NDA Government, Mahayuti Government, wants to take Maharashtra to the forefront in the country,” PM Modi said.
Prime Minister Narendra Modi called the Vadhvan Port project a "very special project" and stated that the port will contribute to India's development. According to a report by news agency ANI, this project will reaffirm Maharashtra as a “powerhouse of progress. ”
