PM lays foundation stone of Rs 76,000cr Vadhvan Port in Palghar

Prime Minister Narendra Modi inaugurated and laid the foundation stone of multiple development projects in Palghar, Maharashtra today.

The projects include laying the foundation stone of Vadhvan Port at a cost of around Rs 76,000 crore, and inauguration and laying the foundation stone of 218 fisheries projects worth around Rs 1,560 crore, says an official release from the Prime Minister's Office.

"Modi launched the national rollout of a vessel communication and support system at a cost of around Rs 360 crore. The Prime Minister also laid the foundation stone for important fishery infrastructure projects including development, upgradation and modernisation of fishing harbours, fish landing centres and construction of fish markets. He handed out transponder sets and Kisan credit cards to fishermen beneficiaries."

Modi said: “The Vadhvan Port will be the country's largest container port and will be counted among the world’s deep water ports. It will become an epicentre of trade and industrial development for Maharashtra and India. The entire world is looking towards Vadhvan Port today."

He said the port would transform the economic landscape of the entire region due to railway and highway connectivity, and create opportunities for new businesses and warehousing owing to its connectivity to the dedicated Western Freight Corridor and proximity to the Delhi-Mumbai Expressway. “Cargo will flow in and out of the region throughout the year, thereby benefiting the people of Maharashtra," he added.

Vadhvan Port, located near Dahanu town in Palghar district, will be one of India’s largest deep-water ports and will provide direct connectivity to international shipping routes, reducing transit times and costs, the release added. "Equipped with state-of-the-art technology and infrastructure, the port will feature deep berths, efficient cargo handling facilities and modern port management systems."

The all-weather greenfield deep draft major port will be constructed by the Vadhavan Port Project (VPPL), a special purpose vehicle (SPV) formed by Jawaharlal Nehru Port Authority (JNPA) and Maharashtra Maritime Board (MMB) with a shareholding of 74 and 26 percent, respectively.