Introduction
The Indian Union Minister Sarbananda Sonowal announced that the proposed Wadhawan Port in the Palghar district of Maharashtra is expected to generate 1.2 million job opportunities for local youth and women once operational. Speaking at the foundation stone laying ceremony for the port project at the CIDCO grounds in Palghar, Sonowal emphasized that under the leadership of Prime Minister Narendra Modi, India has carved a niche for itself as a maritime nation globally, having launched numerous initiatives for the maritime sector over the past decade.
Budget Overview
Located approximately 150 kilometers from Mumbai, this project, which is designed to operate year-round, received approval from the Union Cabinet in June of this year. The total investment for the project stands at ₹76,200 crores, incorporating the development of essential infrastructure, terminals, and other commercial facilities under a Public-Private Partnership (PPP) model. The first phase of the port project is expected to be completed by 2029.
Economic Impact
Sonowal highlighted that this project will not only create employment opportunities for local youth and women but will also benefit the fishing community, ensuring job availability for future generations. He noted that the upcoming facility would play a significant role in the mission to transform India into a self-reliant nation over the next 25 years. Once completed, the Wadhawan Port is poised to rank among the world’s ten largest ports, significantly boosting not just Maharashtra’s economy but that of the entire nation. Importantly, the port is designed to be resilient against weather disruptions, maintaining operations regardless of seasonal changes.
Additional Projects Launched
During this significant occasion, Prime Minister Modi laid the foundation stone of this monumental project in the presence of Maharashtra’s Governor C.P. Radhakrishnan, Chief Minister Eknath Shinde, and Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar. The Prime Minister also inaugurated and laid the foundation stone for 218 fishery projects at a cost of ₹1,560 crores in Palghar during his visit to the state. Furthermore, he addressed the 2024 edition of the three-day Global FinTech Fest held in Mumbai, which concluded on the same day.
