Vadhavan Port Sets Sail with ₹13,000 Crore Investment

The Jawaharlal Nehru Port Authority (JNPA) and Maharashtra Maritime Board (MMB) are embarking on Phase-1 of the Vadhvan port project with a hefty ₹13,000 crore investment. JNPA chairman Unmesh Wagh shared that the Power Finance Corporation has already sanctioned a ₹22,000 crore loan for the project, with the total cost estimated at ₹76,220 crore. The first phase alone requires ₹50,000 crore, sourced through loans and Public-Private Partnerships (PPP).

Construction is set to start post-monsoon with initial road works, followed by land reclamation of 1,448 hectares from the sea. JNPA and MMB will contribute ₹13,000 crore as equity for Phase-1, with JNPA securing ₹9,000 crore and the Maharashtra government providing budgetary support. The remaining funds will be raised through loans or PPP.

The Vadhvan port, once completed, will rank among the top 10 ports globally, boasting a capacity to handle 24 million TEUs. It will feature a 10-kilometer breakwater and nine terminals, including multipurpose berths, RoRO, Coast Guard, and liquid berths.

Unmesh Wagh assured that financing is secured, with a swift ₹22,000 crore loan approval by the Power Finance Corporation. The project uniquely avoids land acquisition issues by reclaiming land from the sea, though 571 acres for roads will be sourced by the National Highway Authority of India.

The Vadhvan port is pivotal for future capacity, with the west coast’s major container ports expected to reach full capacity by 2029. The new port promises to bolster India's maritime infrastructure significantly.

News by Rahul Yelligetti