The Union Cabinet chaired by Prime Minister Narendra Modi has given its in-principle approval for setting up a new Major Port at Vadhavan near Dahanu in Maharashtra. The new Major Port will be established on the basis of land lord model. The projected cost of the Vadhavan Port is over Rs 65,000 crore. After the development of this new Major Port at Vadhavan in Maharashtra, India is expected to enter the list of countries with top 10 container ports in the world.
For the implementation of the project, a Special Purpose Vehicle (SPV) will be formed along the Jawaharlal Nehru Port Trust (JNPT) which will act as the lead partner with equity participation of 50% or more. This SPV will be responsible for the development of the port infrastructure, including construction of breakwater, reclamation with the establishment of connectivity to the hinterland. All the business activities will take place under the public private partnership (PPP) by private developers.
The Reserve Bank of India (RBI) has released the "Report on Trend and Progress of…
The Reserve Bank of India (RBI) has released its Financial Stability Report (FSR) for December…
Indian cuisine is loved all over the world for its delicious flavors and variety. Taste…
South Korea’s political crisis deepened on December 27, 2024, when parliament voted to impeach Acting…
In 2024, Indian travelers explored a mix of exciting destinations, from serene beaches to historical…
Amritsar, a famous city in Punjab, is renowned for its rich history, vibrant culture and…