NEW DELHI :
The government on Wednesday approved the setting up of a port at Vadhavan in Maharashtra at a cost of ₹65,544.54 crore, which is part of the ₹100 trillion investment in infrastructure announced by the Narendra Modi administration, Union minister Prakash Javadekar said on Wednesday.
“A special purpose vehicle (SPV) will be formed with Jawaharlal Nehru Port Trust (JNPT) as the lead partner, with equity participation equal to or more than 50% to implement the project," the government said. “The SPV will develop the port infrastructure, including reclamation and construction of breakwater, besides establishing connectivity to the hinterland. All the business activities would be undertaken under the public private partnership mode," it said.
The Jawaharlal Nehru Port is the biggest container port in India and the 28th largest in the world. When ready, the government expects Vadhavan port to be among the top 10 container ports in the world.
On the coronavirus epidemic, Javadekar said more than 600 Indian students and citizens have been evacuated from Wuhan following the coronavirus outbreak in China.
The cabinet also allowed Alliance Air, a subsidiary of Air India, to start international flights between India and Sri Lanka.