Development of New Ports in the country

 

Development of News Ports in the country 

The Government of India has accorded in-principle approval for the development of Major Port. Madhavan in Maharashtra by a Special Purpose Vehicle (SPV) incorporated. The Madhavan under Companies Act, 2013 with Jawaharlal Nehru Port as lead partner. Non-Major Port is under the jurisdiction of concerned State Governments/Maritime Boards.

Madhavan Port will be developed without any budgetary support from the Government of India. However, the total estimated project cost includes GST, preliminary pre-operative expenses, contingencies, working capital.  And Interest During Construction (IDC) is working out to be Rs. 65,544.54 crores. The Internal Rate of Return (IRR) is expected to be 16.90% approximately.

This information was given by Union Minister for Ports, Shipping, and Waterways Shri Sarbananda Sonowal in a written reply in Rajya Sabha today.