India’s 13th major port to be set up in Maharashtra

The Union Cabinet of India recently approved to set up 13th major port of India, at Vadhavan in Maharashtra. The project is to entail a total cost of Rs 65,544 crore.

The government is expected to hold 51 per cent stake in the project of the new port. All related business activities would be done under private-public partnership (PPP) mode. A special purpose vehicle is proposed to be formed, which would develop the infrastructure of the new port. This port would promote cargo movement from Gujarat, Maharashtra and other land-locked states.