Key pacts were signed to develop liquid cargo terminals at Maharashtra’s mega port project.
Major investment agreements worth ₹5,700 crore were signed on April 21 for Maharashtra’s ambitious Vadhavan Port project, aimed at transforming it into one of the world’s top 10 ports. Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal and Minister of State Shantanu Thakur presided over the signing ceremony.
The deals mark a critical milestone in the ₹76,000 crore mega infrastructure project being built in Palghar district. Once completed, Vadhavan Port will become India’s 13th major container port, featuring nine terminals, including two dedicated to handling liquid and chemical cargo.
Among the major agreements:
- Gandhar Refineries committed ₹4,200 crore to develop a terminal focused on large-scale container and chemical cargo.
- The Saraf Group signed a ₹1,000 crore deal to build another specialized terminal.
- IMC Group pledged ₹500 crore to construct a liquid cargo jetty and storage tanks with a capacity of 3 lakh cubic metres.
Minister Sonowal emphasised the port’s strategic importance, stating, “The development of Vadhavan is vital for realising Vision India@2047. It will triple India’s cargo handling capacity and fulfil PM Modi’s dream of placing Vadhavan among the top 10 ports globally.”
The project is spearheaded by the Jawaharlal Nehru Port Authority (JNPA) through Vadhavan Port Private Limited (VPPL), operating under a landlord model with terminals developed via Public-Private Partnerships (PPP).
The initiative, approved by the Cabinet on June 19, 2024, aims to reduce the load on western Indian ports and establish Vadhavan as a key global maritime logistics hub, strengthening India’s presence in international trade routes.
Source: Indian Express
