Office Address
123/A, Miranda City Likaoli Prikano, Dope
Phone Number
+0989 7876 9865 9
+(090) 8765 86543 85
Email Address
info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
In an exclusive interview with businessline,
Wagh said that Power Finance Corporation has already sanctioned a ₹22,000 crore
loan for the port. The total project cost is estimated at ₹76,220 crore, of
which ₹50,000 crore will be required in the first phase. He said the rest would be sourced either as loans or through the PPP
model.
“The work
for constructing the ₹76,220 crore Vadhvan port in Maharashtra is expected to
begin immediately after this monsoon. We will first begin with
construction of roads after this monsoon. By next year, we will begin the
work of reclaiming 1448 hectares of land from the sea for the port,” Unmesh
Wagh, chairman of Jawaharlal Nehru Port Authority (JNPA), told businessline in
Mumbai.
“JNPA and
Maharashtra Maritime Board (MMB) will together invest ₹13,000 crore as equity
for Phase-1. We have ₹9,000 crore and the Maharashtra government has assured us
of budgetary support. The rest of the funds will either be sourced as loans or
through PPP,” Wagh added about Phase-1 of the Vadhavan port project near Dahanu
in Palghar, which is targeted to be completed by 2029. A special purpose
vehicle, Vadhvan Port Project Ltd has been formed by JNPA and MMB with 74 per
cent shareholding and 26 percent, respectively.
“Once completed, the port will have a capacity to handle 24 million TEUs
and will make it one of the top 10 ports in the world,” he said, adding that the port will be constructed six
kilometres inside the sea by reclaiming land and the project will have
breakwater of 10 kilometres. The port has nine terminals, which include four
in Phase 1. Each terminal with three berths will be a kilometre in
length. There will be four multipurpose berths: one RoRO, one to Coast Guard
and four liquid berths.
“Power Finance Corporation has already sanctioned a ₹22,000 crore loan
for the port. This was received within three days of the cabinet approval being
received on June 19, 2024. We have not finalised the PFC offer yet, as we are still exploring to
construct the port with internal resources. Finance is not an issue for the
port construction,” the official said.
The JNPA chairman also said that no land acquisition was needed to
construct the port as the entire land will be reclaimed from the sea. “However, there will be a requirement of 571
acres for building over 32 kilometers of roads. The land will be sourced by
National Highway Authority of India,” Wagh added.
The capacity in three major container handling
ports on the west coast is expected to be fully utilised by 2029 and the future
capacity is expected to come from Vadhvan.
