Ministry of Ports, Shipping, and Waterways Unveils New Major Ports to Strengthen Maritime Infrastructure
The Government of India has approved the project proposal for setting up a Major Port at Vadhavan,Palghar District, Maharashtra, at an estimated total project cost, including the land acquisition component, of ₹76,220 crore on 19.06.2024. The shareholding between the Jawaharlal Nehru Port Authority and Maharashtra Maritime Board is 74% and 26%, respectively, for construction of the project involving development of core infrastructure, terminals, and other commercial infrastructure through public-private partnership (PPP) mode with various benefits such as creation of a total capacity of 298 million metric tonnes per annum (MMTPA); EXIM trade flow facilitation through the India Middle East Europe Economic Corridor and the International North South Transportation Corridor; accommodation of mainline mega vessels operating on international shipping routes connecting the Far East, Europe, the Middle East, Africa, and America.
There are 12 Major Ports, viz., Major Ports of Chennai, Cochin, Deendayal (Kandla), Jawaharlal Nehru (Nhava Sheva), Kolkata, Mormugao, Mumbai, New Mangalore, Paradip, V. O. Chidambaranar (Tuticorin),Visakhapatnam, and Kamarajar Port Limited, under the Government of India (Ministry of Ports, Shipping and Waterways). Private Sector participation has been allowed in the Major Ports for specific projects/berths/terminals through concession agreement for a specific period by way of open competitive bidding process on revenue share / royalty between the Concessionaire and the Major Port Authority. After expiry of the concession period, the asset is handed over to the Port Authority.As per the Maritime India Vision, 2030, the capacity of cargoatMajor Ports is expected to be approximately 2,200 MMTPA in the year 2030. The Government of India has also given approval to the Project “Development of Outer Harbour Container Terminal Project at V. O. Chidambaranar Port (Tuticorin) on PPP mode”at an estimated total project cost of ₹7,056 crore including Viability Gap Funding Support of ₹1,950 crore or actual quote, whichever is less.