Business and economics

Cabinet approves development of Rs 76,200-crore greenfield major port at Vadhavan

Published on 21 Jun 2024

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Cabinet approves development of Rs 76,200-crore greenfield major port at Vadhavan
  • The Union Cabinet on Wednesday approved the development of a Rs 76,200-crore all-weather greenfield deep draft major port at Vadhavan in Maharashtra.
  • The 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 per cent and 26 per cent, respectively.
  • The port will be one of the top 10 ports in the world.
  • The total project cost, including the land acquisition component, is Rs 76,220 crore.
  • This will include the development of core infrastructure, terminals and other commercial infrastructure in public-private partnerships (PPP) mode.
Source: SarkariPariksha