New Delhi, August 30: Prime Minister Narendra Modi is set to launch India's largest deep-water port, Vadhvan, in Palghar, Maharashtra, on Friday, with an investment of Rs 76,220 crore. According to an official statement from the government, this project will elevate India's maritime capabilities and significantly boost its global trade profile.

"Vadhvan Port' is poised to become one of the top 10 ports globally, outshining India's current largest ports by threefold. This all-weather, greenfield deep-draft major port is set to revolutionize maritime trade, marking India as a key player in the global shipping industry" said the govt. PM Modi in Maharashtra Today: Prime Minister Narendra Modi To Lay Foundation Stone of Vadhvan Port Project Worth INR 76,000 Crore in Palghar, Will Address Global Fintech Fest 2024 in Mumbai.

After being stalled for decades, the Vadhvan Port project is now back on track and is set to be operational by 2030. The port will be a shipping powerhouse, equipped with nine 1,000-meter-long container terminals, multipurpose berths, liquid cargo berths, Ro-Ro berths, and a dedicated Coast Guard berth. The government added that this world-class infrastructure will establish Vadhvan as a crucial maritime hub, capable of handling global trade with unmatched efficiency. PM Modi Maharashtra Visit on August 30: Prime Minister Narendra Modi To Lay Foundation Stone for Vadhvan Port in Palghar; Address Global FintechFest in Mumbai.

It also noted that the Port will serve as India's new gateway to global trade, with a cumulative capacity of 298 million metric tonnes (MMT) per annum. Strategically positioned as a hub port in the Arabian Sea, it will forge vital trade links with the Far East, Europe, the Middle East, Africa, and America, significantly enhancing India's global trade reach.

Beyond its maritime significance, the government statement noted that the Vadhvan Port is also set to be a massive employment generator, creating approximately 12 lakh job opportunities. This project is expected to revitalize the local economy and offer new livelihoods, acting as a catalyst for economic growth and community empowerment in the region. "Vadhvan Port is not just a maritime marvel--it's a massive employment generator. The project is set to create approximately 12 lakh job opportunities, revitalizing the local economy and offering new livelihoods" it said.

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