India's largest deep-water port in Maharashtra: PM Modi to lay foundation for Rs 76,000 cr Vadhvan Port today

Prime Minister Narendra Modi is scheduled to visit Maharashtra today, where he will address the Global Fintech Fest (GFF) 2024 in Mumbai and lay the foundation stone for the Vadhvan Port project, a significant undertaking valued at approximately ₹76,000 crore, according to his office.

PM Modi will start his visit by addressing the GFF at the Jio World Convention Centre in Mumbai at 11 AM. Following this, he will inaugurate and lay the foundation for various development projects at the CIDCO ground in Palghar around 1:30 PM, as stated in a release from the Prime Minister's Office (PMO) on Thursday.

What is the Vadhvan Port?

The Vadhvan Port project aims to create a state-of-the-art maritime gateway that is expected to enhance India’s trade capabilities.

Designed to accommodate large container vessels and ultra-large cargo ships, the port is poised to become one of the largest deep-water ports in India, located near Dahanu in Palghar district.

The facility also connects to international shipping routes, reducing transit times and costs.

In addition to the port, PM Modi will inaugurate 218 fisheries projects worth around ₹1,560 crore, aimed at upgrading the infrastructure and productivity of the fisheries sector nationwide.

These initiatives are anticipated to create over five lakh employment opportunities.

The Prime Minister will also unveil the National Rollout of the Vessel Communication and Support system, a project costing approximately Rs 360 crore. This initiative plans to install one lakh transponders in a phased manner on mechanised and motorised fishing vessels across 13 coastal states and Union Territories.

Further advancements in the fisheries sector will include the development of fishing harbours and integrated aquaparks. The PM will also initiate projects to modernise and upgrade fishing infrastructure, including fish landing centres and markets.