Greenfield port in Maharashtra to be integral part of IMEC: Vaishnaw

Union Minister for Information and Broadcasting, Ashwini Vaishnaw, said that the all-weather Greenfield deep-draft major port at Vadhavan in Maharashtra will be an integral part of the India-Middle East-Economic-Corridor (IMEC).

The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved setting up a major port at Vadhavan near Dahanu in Maharastra.

Speaking to reporters after the cabinet's approval, Vaishnaw said, "It will be a mega terminal and this will be an integral part of the India-Middle-East-Europe Economic Corridor (IMEC). Railway connectivity and highway connectivity of this port have been integrated with the design of the port."

"It is approximately 12 km away from the port and a little more than that on the highway and is adjacent to the dedicated freight corridor. The biggest advantage of the port is two: one is depth and the second is connectivity with the hinterland. So, its connectivity with the hinterland will be seamless and will be 12 km from the dedicated freight corridor," he added.

Calling the decision a milestone, Vaishnaw stressed that Vadhavan port will have a "major multiplier impact" on India's economic growth in the future. He added that the construction of the port will be conducted in two phases, with the first phase expected to be completed by 2029.

He said, "It will be constructed by the joint venture of Jawaharlal Nehru Port Authority and Maharashtra Maritime Board...After its complete construction, it will be one of the top 10 ports in the world."

According to the Cabinet statement, the total project cost, including the land acquisition component, is Rs 76,220 crore, which will include the development of core infrastructure, terminals and other commercial infrastructure in public-private partnerships (PPP) mode.

The cabinet also approved establishing road connectivity between the Port and National Highways by the Ministry of Road Transport & Highways and rail linkage to the existing rail network and the upcoming Dedicated Rail Freight Corridor by the Ministry of Railways.

The Cabinet's statement reads, "The Port will comprise nine container terminals, each 1000 meters long, four multipurpose berths, including the coastal berth, four liquid cargo berths, a Ro-Ro berth, and a Coast Guard berth."

"The Project involves the reclamation of 1,448 hectares of area in the sea and the construction of 10.14 km of offshore breakwater and container/cargo storage areas. The Project will create a cumulative capacity of 298 million metric tonnes (MMT) per annum, including around 23.2 million TEUs (Twenty-foot equivalents) of container handling capacity," it added.

The maritime terminal facilities promote public-private partnerships (PPP) and leverage efficiencies and modern technologies to create a state-of-the-art terminal capable of handling mainline mega vessels plying on international shipping lines between the Far East, Europe, the Middle East, Africa and the Americas.

In a statement, the Cabinet said, "The capacities created will also aid EXIM trade flow through IMEEC (India Middle East Europe Economic Corridor) and INSTC (International North South Transportation Corridor)."

"The world-class maritime terminal facilities promote public-private partnerships (PPP) and leverage efficiencies and modern technologies to create a state-of-the-art terminal capable of handling mainline mega vessels plying on international shipping lines between the Far East, Europe, the Middle East, Africa and the Americas. Vadhavan Port, on completion, will be one of the top ten ports of the world," it added.

Notably, India, the US, UAE, Saudi Arabia, France, Germany, Italy and the European Union signed the Memorandum of Understanding (MoU) to establish the India-Middle East-Europe Economic Corridor during the New Delhi G20 Summit held in September last year.

The IMEC comprises an Eastern Corridor connecting India to the Gulf region and a Northern Corridor connecting the Gulf region to Europe. It will include a railway and ship-rail transit network and road transport routes, according to the Prime Minister's Office statement in September.