The Vadhavan Port on Monday signed major pacts worth Rs 5,700 crore for the proposed facility in Maharashtra’s Palghar district. The deals signed in the presence of Union Shipping Minister Sarbananda Sonowal and Minister of State Shantanu Thakur comprise the construction of a dedicated terminal for chemical products and a specialised jetty for liquid cargo.
The port, which is set to become India’s 13th largest container port, is being constructed with an estimated overall investment of Rs 76,000 crore and will have nine terminals. Of these, two terminals are specifically designed for the handling of liquid and related cargo.
Significant among the agreements is a Rs 4,200-crore investment pact with Gandhar Refineries for the establishment of a terminal that will solely handle large-scale cargo, containers, and liquid chemicals. A deal was also struck with the Saraf Group for the construction of a similar terminal at Rs 1,000 crore. Another deal, for Rs 500 crore, was signed with the IMC Group to build a liquid cargo jetty and storage tanks with a total capacity of 3 lakh cubic metres.
Minister Sonowal said, “The development of these ports will help realise Vision India@2047. Vadhavan Port is expected to triple the nation’s port handling capacity. Prime Minister Narendra Modi envisions bringing Vadhavan into the top 10 ports of the world. These agreements are important for achieving that dream.”
The Jawaharlal Nehru Port Authority (JNPA) is developing the Vadhavan Port project through a special-purpose vehicle company called Vadhavan Port Private Limited (VPPL). JNPA chairman Unmesh Wagh was also present on the occasion.
The project that received cabinet approval on June 19, 2024, is being developed under a landlord model with terminals built through Public-Private Partnerships (PPP). The port is expected to boost India’s cargo handling capacity and make Vadhavan a prominent node in international maritime logistics, by easing the pressure on the existing ports in the western sector and place India in a stronger position in global shipping routes.