NEW DELHI : The Government of India has accorded in-principle approval for development of Major Port at Vadhavan in Maharashtra by a Special Purpose Vehicle (SPV) incorporated under Companies Act, 2013 with Jawaharlal Nehru Port as lead partner. Non-Major Port is under the jurisdiction of concerned State Governments/Maritime Boards.
Vadhavan Port will be developed without any budgetary support from Government of India. However, the total estimated project cost including GST, preliminary pre-operative expenses, contingencies, working capital and Interest During Construction (IDC) is work out to be Rs. 65,544.54 crores. Internal Rate of Return (IRR) is expected to be 16.90% approximately.
This information was given by Union Minister for Ports, Shipping and Waterways Shri Sarbananda Sonowal in a written reply in Rajya Sabha