Vadhavan Port signs agreements of 57 bn deals for expansion in Maharashtra

MUMBAI : Vadhavan Port in Maharashtra’s Palghar district has signed key agreements worth Rs 57 billion for its proposed facility. The deals, which were finalised in the presence of Union Shipping Minister Shri Sarbananda Sonowal and Minister of State Shri Shantanu Thakur, involve the construction of a dedicated terminal for chemical products and a specialised jetty for liquid cargo.

Set to become India’s 13th largest container port, Vadhavan Port is being developed with an overall investment of Rs 760 billion and will feature nine terminals, two of which will handle liquid and related cargo.

Among the major agreements is a Rs 42 billion investment with Gandhar Refineries to establish a terminal for large-scale cargo, containers, and liquid chemicals. A Rs 10 billion deal was also signed with Saraf Group for a similar terminal, and another Rs 5 billion pact with IMC Group will see the construction of a liquid cargo jetty and storage tanks with a total capacity of 300,000 cubic meters.

Minister Sonowal remarked, “The development of these ports will help realise Vision India@2047. Vadhavan Port will triple the nation’s port handling capacity and bring it into the top 10 ports globally, as envisioned by Prime Minister Narendra Modi.”

The project, which received Cabinet approval in June 2024, is being developed under the landlord model, with terminals built through Public-Private Partnerships (PPP). Once completed, the port is expected to enhance India’s cargo handling capabilities and strengthen its position in global maritime trade.