The MOU was signed in 2015 to set up a Vadhvan port as a major port, It will be Maharashtra’s third major port.
- Jawaharlal Nehru Port Authority (JNPA) and Maharashtra Maritime Board will jointly implement this port with a shareholding of 74% and 26%, respectively.
Key Features
- The port will be developed based on the landlord port model.
- Under it, private players take over the operational aspects, while the port authority acts as a regulator and landlord.
- It will be the country's largest container port (handling capacity of 23.2 million twenty-foot equivalent units) and one of India’s largest deep-water ports.
- It will feature deep berths, efficient cargo handling facilities, and modern port management systems.
Significance
- Direct Connectivity to International Shipping Routes: will reduce transit times and costs.
- Natural draft of about 20m will aid in accommodating huge container ships.
- Economic Growth: expected to generate significant employment opportunities and will strengthen India’s position as a global trade hub.
- Opportunities for new businesses and warehousing: owing to its connectivity to the dedicated Western Freight Corridor and proximity to Delhi-Mumbai Expressway.
India’s Port Sector
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