Major port coming up at Vadhavan in Maharashtra
Vadhavan would be developed as a landlord port, with the port company will be developing the basic port infrastructure to promote sea freight forwarding services, while other facilities will be constructed by private firms in the public-private-partnership mode.
Under the endorsement of Prime Minister Narendra Modi, The Union Cabinet has granted its in-principle permission for establishing a major port at Vadhavan in Maharashtra. This new construction of the port will be highly beneficial for international freight forwarders on a comprehensive scale. The overall budget for the whole project has been estimated at around 655.44 billion in Indian Rupee Currency. According to the press release of PIB, authorities are planning to implement the ‘Landlord Model’ while constructing the Vadhavan port.