The Cabinet Committee on Economic Affairs (CCEA) is expected to give the green light to the ambitious Vadhavan Port project in Dahanu, Maharashtra, which has an estimated investment of Rs 76,000 crore, sources familiar with the development said.

The Vadhavan Port project will be executed in a public-private partnership (PPP) mode, aiming to attract an investment of around Rs 38,000 crore from private operators interested in managing the deep-draft port. The port's development will be undertaken by Vadhavan Port Project Ltd, a special purpose vehicle (SPV) formed through a collaboration between the Jawaharlal Nehru Port Authority (JNPA) and the Maharashtra Maritime Board (MMB).

The project is planned to be implemented in two phases. It is noteworthy that the port offers a natural draft of 20 meters, located just 5 kilometers from the shore. This deep draft will facilitate the easy docking of large vessels, significantly enhancing operational efficiency.

Initially, the project faced opposition from local farmers, fishermen, and residents, leading to a revision of the project details. This revision has increased the total project cost from the earlier estimated Rs 66,000 crore to over Rs 76,000 crore.

The development of Vadhavan Port aims to accommodate container vessels with capacities ranging from 16,000 to 25,000 twenty-foot equivalent units (TEUs). The Central Government has stated that this port will provide economies of scale and reduce logistics costs.

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