Modi Invokes Job Creation While Laying Foundation For Rs 76,000-Crore Vadhvan Port
The Vadhvan Port will be developed in two phases and is anticipated to become one of the top 10 ports globally upon completion.
Prime Minister Narendra Modi laid the foundation stone for the Vadhvan Port project on Friday in Palghar, Maharashtra. The project, valued at approximately Rs 76,000 crore, is expected to enhance India’s standing in global port rankings and drive economic growth in the region.
Addressing the gathering, PM Modi highlighted the government's commitment to job creation and infrastructure development, noting that substantial investments have significantly enhanced the port's capacity and efficiency.
"The government has focused on employment, investing crores to yield tangible results. Today, our ports have double the capacity they had before, leading to increased direct investment and more efficient operations. Our businesses are reaping the benefits, and our youth are directly gaining from the new opportunities created," PM Modi said.
The Vadhvan Port, with its state-of-the-art facilities, is poised to become a critical node in global maritime trade. PM Modi underscored that the port is now in competition with only a few other ports worldwide. He predicted that thousands of ships and containers will pass through Vadhvan, fundamentally altering the economic dynamics of the region.
The new port will also be integrated with rail and highway networks, fostering a surge in new business opportunities and enhancing warehousing capabilities. Its proximity to the Delhi-Mumbai Expressway further underscores its strategic importance, positioning it as a key logistics hub for year-round cargo movement, Modi said.
"The direct beneficiaries of this development will be the people of Maharashtra," the Prime Minister said, reiterating his priority to support the state's growth. He noted that the benefits of the 'Make in India' initiative and the Atmanirbhar Bharat Abhiyan are increasingly visible in Maharashtra, further reinforcing the government's commitment to the state’s economic advancement.
Earlier today, PM Modi addressed the Global Fintech Fest 2024 at the Jio World Convention Centre in Mumbai.
Vadhvan Port: All You Need To Know
The Vadhvan Port, located near Dahanu and around 110 km from Mumbai, will be developed in two phases and is anticipated to become one of the top 10 ports globally upon completion. The project is a deep-draft port, designed to accommodate large vessels and cargo ships.
The port will be constructed by Vadhvan Port Project Ltd.—a joint venture of Jawaharlal Nehru Port Authority Ltd., which will hold a 74% stake, and the Maharashtra Maritime Board, which will hold the remaining share. The development will follow the landlord model, aligning with government policy and involving a mix of public and private sector investment.
The project includes the creation of core infrastructure, terminals, and other commercial facilities, with a focus on fostering public-private partnerships. It also features the establishment of road connectivity to national highways and rail links to the existing network and upcoming dedicated rail freight corridor, facilitated by the Ministry of Road Transport and Highways and the Ministry of Railways, respectively.
The Vadhvan Port is integral to the PM Gati Shakti programme and is expected to generate substantial economic benefits. It is projected to create around 12 lakh direct and indirect employment opportunities, boosting regional development.
The port will consist of nine container terminals, each 1,000 meters in length, along with four multipurpose berths, including a coastal berth, four liquid cargo berths, a Ro-Ro berth, and a coast guard berth. It will involve the reclamation of 1,448 hectares of sea area and the construction of 10.14 km of offshore breakwater and cargo storage facilities. The total capacity is expected to reach 298 million metric tonnes per annum, including approximately 23.2 million TEUs (twenty-foot equivalent units) for container handling.
