maha-s-vadhvan-port-to-create-1-2m-jobs-sonowal

Union Minister Sarbananda Sonowal on Friday inaugurated the foundation stone laying ceremony for the Vadhvan Port project in Palghar district, Maharashtra, which is expected to create 1.2 million jobs for local youth and women upon completion.

With the foundation laid by Hon'ble PM Shri @narendramodi in Palghar, Maharashtra today, India sets sail into a new maritime era with the launch of Vadhvan Port! This monumental project will redefine global trade and give a significant boost to the nation's economy #VadhvanPort pic.twitter.com/gAqvl7gh1V

— Ministry of Ports, Shipping and Waterways (@shipmin_india) August 30, 2024

Addressing the event at CIDCO ground, Sonowal highlighted that the Vadhvan Port would offer various facilities to the local community and bolster Maharashtra’s maritime capabilities.

The port, a greenfield deep-draft facility 150 km from Mumbai, received Union Cabinet approval in June and will see an investment of ₹76,200 crore. This includes developing core infrastructure, terminals, and other commercial facilities through a public-private partnership (PPP).

Prime Minister Narendra Modi, who laid the foundation stone, was joined by Maharashtra Governor C.P. Radhakrishnan, Chief Minister Eknath Shinde, and Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar.

During his visit, Modi also inaugurated 218 fisheries projects worth ₹1,560 crore in Palghar and addressed the 2024 Global Fintech Fest in Mumbai.

The Vadhvan Port project is set to be completed in phases, with the first phase expected by 2029. Sonowal described the port as a major gift from Modi to Maharashtra and the nation, emphasising its potential to significantly contribute to India’s self-sufficiency goals over the next 25 years.

The port, to be built by Vadhvan Port Project Limited (VPPL)—a special purpose vehicle comprising 74% Jawaharlal Nehru Port Authority (JNPA) and 26% Maharashtra Maritime Board (MMB)—will feature nine container terminals, four multipurpose berths, four liquid cargo berths, a Ro-Ro berth, and a Coast Guard berth.

The project includes reclaiming 1,448 hectares of sea and constructing 10.14 km of offshore breakwater and cargo storage areas, with a cumulative capacity of 298 million metric tonnes per annum and handling around 23.2 million TEUs of containers.

Additionally, state-run REC signed a memorandum of understanding with JNPA last week for financing up to ₹45,000 crore for the port and other projects. Power Finance Corp (PFC) has also committed approximately ₹21,000 crore towards the development of the Vadhvan Port.

Sonowal concluded by noting that the Vadhvan Port would enhance Palghar's global profile and position it as a significant business hub.