The Maharashtra govt on Tuesday approved a fund of 3,040 crore for the Maharashtra Maritime Board (MMB) for the Vadhvan port development project.

Officials said this was the govt contribution of 26 per cent of the total project cost. Vadhvan port in Dahanu taluka of Palghar district will be developed as a satellite port of the Jawaharlal Nehru Port Authority (JNPA). JNPA will spend the remaining 74 per cent of the project cost of Rs76,220 crore.

With fisheries and port development minister Nitesh Rane pushing for it, a government resolution (GR) to the effect was issued.

The development of the port sector is of utmost importance for achieving the economic and industrial development of the state. There is a need to create various port projects in the state with modern infrastructure for import and export through water transport. And that is why, keeping in mind this need for the future, it has been decided to develop Vadhvan port in Dahanu taluka of Palghar district as a satellite port of the Jawaharlal Nehru Port Authority (JNPA), an official said.

Vadhvan port will be the largest port in the country, and the total cost of this project is 276,220 crore. This project will be developed through Ms Vadhvan Port Project Ltd in a joint partnership between JNPA and MMB. JNPA will spend 74 per cent of the total project, and MMB will spend 26 per cent. So the state govt has approved a fund of 23,400 crore as 24 per cent to MMB for the construction of this port, the official said.

Source: ET Infra. Com 

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