The Union cabinet on Wednesday approved the development of a ₹76,200 crore all-weather greenfield deep draft major port at Vadhavan in Maharashtra, according to an official statement.
The statement said the project will be constructed by Vadhavan Port Project Limited (VPPL), an SPV formed by Jawaharlal Nehru Port Authority (JNPA) and Maharashtra Maritime Board (MMB), with a shareholding of 74 per cent and 26 per cent, respectively. The port will be one of the top 10 ports in the world, the statement said.
The project will create employment opportunities for 12 lakh people, I&B Minister Ashwini Vaishnaw said in a press briefing.
The port will comprise nine container terminals, each 1,000 metres long, four multipurpose berths, including the coastal berth, four liquid cargo berths, a Ro-Ro berth, and a Coast Guard berth.
Wind energy
The Union cabinet on Wednesday approved a ₹7,453 crore-Viability Gap Funding (VGF) scheme for offshore wind energy projects, including one in Gujarat.
The scheme includes an outlay of ₹6,853 crore for the installation and commissioning of 1GW of offshore wind energy projects (500 MW each off the coast of Gujarat and Tamil Nadu), and a grant of ₹600 crore for the upgradation of two ports to meet logistics requirements for offshore wind energy projects.
The VGF scheme is a major step towards implementation of the National Offshore Wind Energy Policy notified in 2015, with an aim to exploit the vast offshore wind energy potential that exists within the exclusive economic zone of India, Vaishnaw said.
The VGF support from the government will reduce the cost of power from offshore wind projects and make them viable for purchase by discoms, he noted.
Varanasi airport
The cabinet on Wednesday approved a ₹2,869.65-crore proposal for the expansion of Lal Bahadur Shastri International Airport at Varanasi.
The development of the airport at Varanasi, which is the Lok Sabha constituency of Prime Minister Narendra Modi, includes the construction of new terminal building, extension of apron and runway, parallel taxi track and other allied works.
