CURRENT AFFAIRS

Detailed explanation-1: -The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its ‘in-principle’ approval for setting up a Major Port at Vadhavan near Dahanu in Maharashtra. Total cost of the project is likely to be Rs. 65, 544.54 crore. Vadhavan port will be developed on “land lord model".

Detailed explanation-2: -New Delhi: The Union Cabinet on Wednesday gave its ‘in-principle’ approval for setting up a major Port at Vadhavan near Dahanu in Maharashtra. The total cost of the project is likely to be ₹ 65, 544.54 crore, a government statement said. Vadhavan port will be developed on “land lord model".

Detailed explanation-3: -Jawaharlal Nehru Port Authority signed a MoU with Maharashtra Maritime Board for development of Vadhvan Port. The Proposed Port is located at Vadhvan point near Dahanu in the District of Palghar, Maharashtra.

Detailed explanation-4: -Wadhwan port near Dahanu bordering Gujarat. Over two decades ago, the Maharashtra government and Jawaharlal Nehru Port Trust (JNPT) planned the port at Wadhwan. The project was tweaked with time and the government planned to reclaim the sea. This was done by the government to win over the villagers.

Detailed explanation-5: -Envisioned as India’s first foreshore port, the project is to be jointly administered by Jawaharlal Nehru Port Trust (JNPT), which has a 74% equity stake, and the Maharashtra Maritime Board, which holds the remaining 26%.