INDIA's busiest port Mumbai is slated to get another satellite port later this decade to alleviate congestion concerns.
The Indian government has given the green light for the development of Vadhavan Port to be built on an artificial peninsula 125 km north of Mumbai.
The new port will be 51 per cent owned by the government with the Jawaharlal Nehru Port Trust (JNPT) taking the remaining 49 per cent shareholding. JNPT also controls Mumbai's southern satellite port, Nhava Sheva.
The government will put out a tender for global terminal operators to run the new port, which will be capable of handling 24,000 TEU capacity ships. The 10 million TEU capacity port is expected to cost US$9 billion to construct, reports Singapore Splash 247.
"Currently, there is no definitive schedule for the construction of the Vadhavan project, but given its scale it might well take until the late 2020s to eventually come on stream," Alphaliner stated in its latest weekly report.
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