The Union Cabinet has given its 'in-principle' approval for setting up a major port at Vadhavan near Dahanu in Maharashtra.
- With the development of Vadhavan port, India will break into the countries with the top 10 container ports in the world. A container port is a port that specializes in handling goods transported in containers.
- The port will be developed on the ‘landlord model’.
- In the landlord port model, the publicly governed port authority acts as a regulatory body and as a landlord while private companies carry out port operations—mainly cargo-handling activities.
- ASpecial Purpose Vehicle (SPV) will be formed with Jawaharlal Nehru Port Trust (JNPT) as the lead partner to implement the project.
- The position of Jawaharlal Nehru Port, the biggest container port in India, is 28th in the world in terms of traffic handling capacity.
- With the completion of the 4th terminal at JN Port, its capacity will increase to 10 million TEUs (Twenty-Foot Equivalent Units) making it the 17th largest container port in the world.
- The SPV will develop the port infrastructure including reclamation, construction of a breakwater, besides establishing connectivity to the hinterland. All the business activities would be undertaken under the Public-Private Partnership (PPP) mode by private developers.
Note: The Union Government is responsible for the development of Major Ports whereas minor ports are under the jurisdiction of respective State Governments.