Country to get 13th major port at Vadhavan in Maharashtra for Rs 65,544 cr

The Union Cabinet on Wednesday approved the setting up of the country’s 13th major port at Vadhavan in Maharashtra at a total cost of Rs 65,544.54 crore.
 
The Vadhavan port will be developed on “landlord model” (where infrastructure is leased to private firms or industries and chemical plants). A special purpose vehicle (SPV) will be formed, with the government planning to hold 51 per cent stake in the project.
 
The SPV will develop the port infrastructure including reclamation, construction of breakwater, besides establishing connectivity to the hinterland. All the business activities would be undertaken under the private-public partnership