The Union Environment Ministry has granted approval for the Rs 76,000 crore Vadhavan Port, which will now be presented to the Cabinet for final approval, as stated by Ports, Shipping, and Waterways Minister Sarbananda Sonowal. Vadhavan Port Projects Ltd. (VPPL), a special purpose vehicle (SPV) with 74% stake held by Jawaharlal Nehru Port Authority (JNPA) and 26% by Maharashtra Maritime Board, will invest Rs 38,976 crore in infrastructure, with an expected Rs 37,244 crore investment from the private sector.
