New Delhi: The Union Cabinet on Wednesday approved the development of a Rs 76,200 crore all-weather greenfield deep draft major Port at Vadhavan in Maharashtra, according to an official statement.
The statement said the project will be constructed by Vadhavan Port Project Limited (VPPL), an SPV formed by Jawaharlal Nehru Port Authority (JNPA) and Maharashtra Maritime Board (MMB), with a shareholding of 74 percent and 26 percent, respectively.
The port will be one of the top 10 ports in the world, the statement said.
The project will create employment opportunities for 12 lakh people, I&B Minister Ashwini Vaishnaw said in a press briefing.
The port will comprise nine container terminals, each 1,000 metres long, four multipurpose berths, including the coastal berth, four liquid cargo berths, a Ro-Ro berth, and a Coast Guard berth.
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