In-principle approval for development of Vadhavan port

The Indian government has given in-principle clearance for the establishment of a major port at Vadhavan in Maharashtra by a Special Purpose Vehicle (SPV) constituted under the Companies Act, 2013, with Jawaharlal Nehru Port as the primary partner. The concerned State Governments/Maritime Boards have control over Non-Major Ports. The Government of India will not contribute any funds to the development of the Vadhavan Port. The overall anticipated project cost, which includes GST, preliminary pre-operative expenses, contingencies, working capital, and Interest During Construction (IDC), comes to Rs. 65,544.54 crores. The Internal Rate of Return (IRR) is estimated to be around 16.90 percent.