The construction of the first phase of Vadhavan Port will begin soon. The connecting road construction will start post-monsoon and the 1,448 hectares of land reclamation work from the sea will start by next year. JNPA and Maharashtra Maritime Board will be together investing Rs.13000Cr for the first phase which is targeted to be completed by 2029.
Power Finance Corporation has already sanctioned Rs 22,000 crore loan for the port. The total project cost is estimated at Rs 76,220 crore, of which Rs 50,000 crore will be required in the first phase. The rest would be sourced either as loans or through the PPP model.
