Cabinet approves setting-up of Vadhavan Port in Maharashtra

The Union Cabinet gave in-principle approval for the establishment of a new major port at Vadhavan, Maharashtra. The Vadhavan port will be developed on the 'Landlord Model'. A Special Purpose Vehicle (SPV) to be set up to provide the necessary infrastructure to the port.
The natural draft at the Vadhavan Port near the coast is about 20 meters, which is expected to maintain large ships at this port. The development of the Vadhavan port will house the container ships of 16,000 to 25,000 TEU capacities.
According to the government report, the total cost of Vadhavan Port project is about Rs.65,544.54 crores.
India currently have 12 Major ports.Jawaharlal Nehru Port Trust (JNPT) is the largest in India. It is ranked 28th in the world and has a traffic of 5.1 million TEUs (Twenty-Foot Equivalent Units).
Jawaharlal Nehru Port will be the 17th largest container port in the world even after the completion of the fourth terminal with capacity addition of 10 million TEUs by 2023.
India will join the top 10 container port countries in the world after the development of the Vadhavan port.