The Indian government has approved an investment to tune of $9.18 billion to construct a greenfield all-weather port in western state of Maharashtra, according to a government statement on Friday, June 21.
The port to be part of the India-Middle East-East Europe Economic Corridor (IMEEEC), will entail an additional investment of $482 million to construct road and rail linkages between the port and the hinterland, the statement said.
To be located at Vadhavan in Maharashtra is envisaged to have a 20-meter natural depth and capacity to handle 23.3 million TEU (twenty feet equivalent) containers per year.
The project is to be completed in two phases, with the first phase scheduled for operation by 2030 and the second phase by 2039.
The port will act as the main feeder port of IMEEEC and propel cargo movement to Chabahar port in Iran and to International North-South Corridor, the statement said.