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Union Cabinet likely to clear Rs 76,220 cr to develop Vadhvan port in Maharashtra
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Union Cabinet likely to clear Rs 76,220 cr to develop Vadhvan port in Maharashtra

| @indiablooms | 07 Mar 2024, 12:54 am

The Union Cabinet, chaired by Prime Minister Narendra Modi, is likely to give the green signal to a Rs 76,220 crore project to develop a new deep-water major port at Vadhvan near Dahanu in Maharashtra, media reported

Moneycontrol reported citing multiple government sources that the decision is likely to be taken in the Union Cabinet meeting on March 7.

The report stated, citing senior government officials that a total of 10 major infrastructure projects have been submitted to the Union Cabinet for endorsement.

Likewise, another senior government official told Moneycontrol that the Union Cabinet is anticipated to sanction the Vadhavan Port project on March 7, along with proposals for projects concerning the Guwahati Ring Road and the Kharagpur-Siliguri highway.

In February, the Public Investment Board approved the construction of a container terminal with a capacity to handle an annual cargo of 23 million twenty-foot equivalent units (TEUs), or 254 million tonnes, and recommended the large-scale project to the Union Cabinet for final approval.

The port, which will be overseen by the Jawaharlal Nehru Port Trust (JNPT), is planned to be established in the environmentally sensitive Dahanu taluka in Maharashtra's Palghar district.

The construction of Vadhavan will be undertaken by a joint venture, with the Jawaharlal Nehru Port Authority (JNPA) holding a 74 percent stake and the Maharashtra Maritime Board (MMB) holding the remaining 26 percent.

The port will be developed in stages, with an initial capacity to handle 15 million TEU containers in the first phase. After the completion of its second phase, its capacity will increase to 23.2 million TEUs.

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