The Business Bytes
New Delhi, August 29, 2024 (TBB Bureau): Prime Minister Narendra Modi will visit Palghar in Maharashtra on Friday to lay the foundation stone for the Vadhvan Port project, which is set to become one of India’s largest deep-water ports. The project, valued at approximately Rs 76,000 crore, aims to establish a world-class maritime gateway, enhancing the country’s trade and economic growth.
Located near Dahanu town in Palghar district, Vadhvan Port is envisioned as a state-of-the-art facility that will accommodate large container vessels and ultra-large cargo ships, providing direct connectivity to international shipping routes. This connectivity will significantly reduce transit times and costs, offering deeper drafts and modern port management systems. Equipped with advanced technology and efficient cargo-handling facilities, the port is expected to generate significant employment opportunities, stimulate local businesses, and contribute to the overall economic development of the region.
The Vadhvan Port project emphasizes sustainable development, with a strong focus on minimizing environmental impact and adhering to stringent ecological standards. Once operational, the port is expected to enhance India’s maritime connectivity and strengthen its position as a global trade hub.
In addition to the port project, the Prime Minister will inaugurate and lay the foundation stone for 218 fisheries projects worth around Rs 1,560 crore. These initiatives aim to bolster the sector’s infrastructure and productivity nationwide and are expected to create over five lakh employment opportunities in the fisheries sector. The projects include the development of fishing harbours and integrated aquaparks, alongside the adoption of advanced technologies like the Recirculatory Aquaculture System and Biofloc. These will enhance fish production, improve post-harvest management, and provide sustainable livelihoods for millions involved in the fisheries industry.
The Prime Minister will also launch the National Rollout of the Vessel Communication and Support System, a project valued at around Rs 360 crore. Under this initiative, 1 lakh transponders will be installed in a phased manner on mechanized and motorized fishing vessels across 13 coastal states and Union Territories. Developed indigenously by ISRO, this technology will establish two-way communication while fishermen are at sea, assist in rescue operations, and ensure the safety of the fishermen.
The development, upgradation, and modernization of fishing harbours, fish landing centres, and construction of fish markets will also be initiated by the Prime Minister. These projects are expected to provide necessary facilities and hygienic conditions for the post-harvest management of fish and seafood.
