PM Modi to Launch Key Projects in Maharashtra, Including Vadhvan Port and Global Fintech Fest 2024
Prime Minister Narendra Modi is set to visit Mumbai and Palghar in Maharashtra on Friday for a series of high-profile engagements. His itinerary includes laying the foundation stone for the ambitious Vadhvan Port project and addressing the Global Fintech Fest 2024.
In a recent post on X, Prime Minister Modi expressed his anticipation for the visit, stating, “I look forward to being among the people of Maharashtra… I will take part in the Global Fintech Fest 2024 at around 11 AM. This platform showcases India’s strides in the world of Fintech and brings together key stakeholders of the sector. Thereafter, I will be in Palghar for the foundation stone laying programme of the Vadhvan Port project. This is a very important project, signifying our commitment to port-led development and to the progress of Maharashtra.”
The Vadhvan Port, set to become a major growth engine along India’s western coast, will involve an investment of Rs 76,220 crore, including land acquisition costs. The greenfield project aims to establish an all-weather port with deep draft capabilities, positioning it among the top ten seaports globally upon completion.
Prime Minister Modi will conduct the ground-breaking ceremony at CIDCO Grounds in Palghar, approximately 140 km from Mumbai, near the Maharashtra-Gujarat state boundary. The project, delayed for decades due to local protests, is spearheaded by Vadhvan Port Project Ltd (VPPL), a special purpose vehicle (SPV) formed jointly by the Jawaharlal Nehru Port Authority and Maharashtra Maritime Board.
The Vadhvan Port will feature extensive infrastructure, including nine terminals, four multipurpose berths, and various cargo handling facilities. The project includes reclaiming 1,448 hectares from the Arabian Sea and constructing a 10.14 km offshore breakwater. The port is expected to handle 298 million metric tons per annum and approximately 23.2 million TEUs of container traffic.
In addition to the port project, Prime Minister Modi will launch 218 fisheries projects worth Rs 1,560 crore, aimed at enhancing local infrastructure and creating over 500,000 jobs in the fisheries sector. This initiative will include the development of Integrated Aquaparks and the National Roll Out of the Vessel Communication and Support System, which will see the installation of 100,000 transponders on fishing vessels across 13 coastal states.
The Prime Minister will be accompanied by Union Ministers Sarbananda Sonowal, S.P. Singh Baghel, and George Kurian, Governor C.P. Radhakrishnan, Chief Minister Eknath Shinde, Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar, along with other senior officials.
