Question: Consider the following statements:
(1) Vadhavan port located in Maharashtra.
(2) The port will be developed on ‘land lord model’.
Select the correct options from the following:
(a) Only (1)
(b) Only (2)
(c) Both (1) and (2)
(d) None of the above
Answer: (c)
Related facts:
- The Union Cabinet has given its ‘in-principle’ approval for setting up a major port at Vadhavan near Dahanu in Maharashtra.
- With the development of Vadhavan port, India will break into the countries with top 10 container ports in the world.
- A container port is a port which specializes in handling goods transported in containers.
- The port will be developed on ‘land lord model’. Total cost of the project is likely to be Rs.65,544.54 crore.
- In the landlord port model, the publicly governed port authority acts as a regulatory body and as landlord while private companies carry out port operations—mainly cargo-handling activities.
- A Special Purpose Vehicle (SPV) will be formed with Jawaharlal Nehru Port Trust (JNPT) as the lead partner to implement the project.
- The Jawaharlal Nehru Port is the biggest container port in India and is 28th in the world in terms of traffic handling capacity with 5.1 million TEUs.
- With the completion of the 4th terminal at JN Port, its capacity will increase to 10 million TEUs (Twenty-Foot Equivalent Units) making it the 17th largest container port in the world.
- The SPV will develop the port infrastructure including reclamation, construction of breakwater, besides establishing connectivity to the hinterland.
- All the business activities would be undertaken under Public-Private Partnership (PPP) mode by private developers.