On 30th August, PM Narendra Modi, laid the foundation stone of the Vadhvan mega port project in Palghar, Maharashtra. This Rs 76,220 crore project, is set to be India’s largest port and will bolster our maritime infrastructure. PM Modi, termed it project as a “very special” one which will play a pivotal role in India’s development.
A very special project that will contribute to India’s development. It will also reaffirm Maharashtra’s pivotal role as a powerhouse of progress. https://t.co/TKqvo4ZO8c
— Narendra Modi (@narendramodi) August 30, 2024
Project Details
The Maharashtra Maritime Board (MMB) and Jawaharlal Nehru Port Authority (JNPA) are jointly developing the port. Once completed by 2030, the project will greatly enhance India’s cargo handling capacity and maritime infrastructure. It is the first greenfield port that is being built by the central and state agencies under the “landlord” model it represents a significant milestone.
Funding
VPPL will be developing the core infrastructure of the project at a cost of Rs 43,622 crore. The Ministry of Railways and other state agencies will be providing additional funding. For the purpose of developing the commercial infrastructure, private operators will invest Rs 37,244 crore. Overall it is being developed under the public-private partnership (PPP) mode.
Features
The port will be capable of accommodating large vessels. It will feature around nine 1000 meter long container terminals with multiple berths for various cargo types. In order to construct the 20-meter draft necessary to accommodate large vessels, 1,448 hectares will be reclaimed from the sea. The port will feature deep berths, efficient cargo handling facilities, and cutting-edge port management system.
Once completed in 2030, it is expected to handle 23.2 million TEUs (Twenty-foot equivalent units) annually. Thus, making it the largest port in India with a cumulative cargo handling capacity of 298 million tonnes per annum.
Strategic significance
The port will act as a gateway to international trade with an expected capacity of 298 metric tonnes per year. The port is strategically located in the Arabian Sea, thereby, connecting India with the Middle East, African countries and America. Thus, broadening India’s global trade outreach.
Furthermore, being located near the Dedicated Rail Freight Corridor and the Mumbai-Vadodara expressway. the port will provides connectivity across several Indian states.
According to Amitabh Kant, “As the starting point of the India-Middle East-Europe Economic Corridor (IMEC), the mega port in Vadhavan will serve as a doorway for India’s trade with Europe and the Gulf region. It will also serve as a cost-efficient gateway for India’s trade with Central Asia and Russia via the International North-South Transportation Corridor (INSTC).”
Employment Generation
In addition to boosting maritime trade opportunities. The Vadhvan Port project is expected to create a significant number of job opportunities. Around 12 lakh jobs will be generated, boosting the local economy and providing new livelihood options. It will led to the economic growth and community empowerment in the region.
India’s Largest Port
Once operational, the Vadhvan port will be India’s largest deep water port. It will surpass all the current ports in India in terms of maritime trade capabilities. With its development, India will be able to expand its global trade footprint and will be competing with major international ports in Singapore and China.