Vadhavan port gets the go-ahead
The Indian government has approved the development of a new port in Vadhavan, near Dahanu, Maharashtra, citing that this facility is potentially capable of “redefining India’s maritime trade.”
The total project cost, including land acquisition, is estimated at Rs762bn, and will fall under the remit of a new Special Purpose Vehicle (SPV) formed by the Jawaharlal Nehru Port Authority (JNPA) with 74% and the Maharashtra Maritime Board (MMB), which retains 26%.
This project envisages installing an eventual annual capacity of 298 million metric tons, including 23.2 million TEU, while being an integral part of the India-Middle East-Europe Corridor (IMEC). Cargo will be handled across nine container terminals, four multipurpose berths, including a coastal berth, four liquid cargo areas, a roll-on-roll-off berth, and a coast guard operation.
In gaining approval, the project has overcome strong opposition from the local population and environmental groups, although support was gained from the influential Dahanu Taluka Environment Protection Authority (DTEPA).
The government has stated that the Vadhavan Port Project offers a “substantial opportunity for investors” although further details are awaited.
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