The Indian government has approved a project to develop the construction of a large deepwater port, with the intention of strengthening trade relations with Europe, through maritime routes via the Middle East. This project is valued at approximately US$9.14 billion and will be built on the west coast of the country, about 150 kilometers from Mumbai.
Large port construction in India
This new port, called Vadhavan, is designed to accommodate terminals that can handle “mega-ships” as well as specialized facilities for oil, automobiles and other imports. The Minister, Ashwini Vaishnaw, informed that the port will have an annual capacity annual capacity of 298 million metric tons. Construction will be carried out in two phases, with the first scheduled for completion in 2029.
[post_relacionado]According to Vaishnaw, the Vadhavan port will be a key component of the India-Middle East corridor, a strategic plan unveiled in September during the G20 summit in New Delhi. This corridor aims to improve trade routes between India and Europe, facilitating a more efficient flow of goods.
In addition, the minister emphasized that this development will strengthen transportation infrastructure, while acting as an important catalyst for future economic growth, creating new business and job opportunities in the region.
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Source: MarineLink
Photo: Shutterstock