Page 42 - Construction_Opportunities_June_2024

TICKER TAPE
INFRASTRUCTURE The Cabinet recently cleared the over `76,000 crore Vadhavan The port will be built on a landlord-model and through PPP.
`76,000-CR GREENFIELD VADHAVAN PORT GETS
CABINET NOD
The first phase of construction is to be completed by 2030 will see
capacity creation of 15 million TEUs; while the remaining 8.2 million
TEUs will come-up in phase–II that is expected to be completed
deep-sea port project, off Mumbai, on the West Coast of India.
The greenfield port, to be constructed in two phases with a total
by 2040.
A Special Purpose Vehicle (SPV), Vadhavan Ports Projects Ltd has
capacity of 23.2 million TEUs, will be a key part of India’s IMEEEC
been created with 74 per cent equity stake of Jawaharlal Nehru
project (India Middle East Europe Economic Connectivity).
According to Sarbananda Sonowal, Union Minister for Ports,
Maritime Board (MMB).
Shipping and Waterways (MoPSW), Vadhavan port will act as the
main feeder port for IMEEEC. It will also propel cargo-movement Port Authority (JNPA) and 26 per cent equity stake with Maharashtra
The SPV will invest `38,976 crore in constructing basic infrastructure
to Chabahar Port in Iran and to International North South Transport while the private sector is likely to invest around `37,244 crore.
Corridor (INSTC). The SPV will spend `21,267 crore on Engineering Procurement
The port will have a draft of 20 meters thereby allowing mega and Construction (EPC) mode for creating basic infrastructure
vessels of 24,000 TEUs to be handled. like breakwater, shore protection works, approach trestles, port
Due to its efficient connectivity to hinterland, the cost of logistics buildings, internal roads etc. Another `17,709 crore will be infused
will reduce and there is an estimated potential cost saving of $50 for dredging and reclamation Work.
to $100 per TEU. The terminal operators to invest `37,244 crore for development of
“Vadhavan port with its proposed deep draft and strategic berths, terminals, container terminals, Ro-Ro terminal, bulk liquid
positioning along a prime trade route, is equipped to function as jetty, among others.
a transhipment port,” Sonowal said. According to Ashwini Vaishnaw, Union I&B Minister, all stakeholders
Road connectivity to the port will be via National Highway-48 and were taken on -board and necessary approval obtained, prior to
Delhi Mumbai Expressway. The road network will connect it to parts the Cabinet nod.
of North and Central India. “The strategic location of Vadhavan port will play a huge locational
The Mumbai-Delhi Western Railway Line and the upcoming advantage for augmenting economic activity of the North, the
Western Dedicated Freight Corridor is located 12 km from the port. North West and Central India,” he said.

PM MODI LAID FOUNDATION STONE OF DEVELOPMENT of six Government Degree Colleges.
PROJECTS IN J-K. The Prime Minister also launched the Competitiveness
Prime Minister Narendra Modi inaugurated and laid the foundation Improvement in Agriculture and Allied Sectors (JKCIP) Project
stone of 84 major developmental projects worth more than `1,500 worth `1,800 crore. The project will be implemented in 90 Blocks
crore in Jammu and Kashmir recently. across 20 districts of Jammu and Kashmir and will have the project
According to a PMO release, the inaugurations included projects outreach of 300,000 households covering 1.5 million beneficiaries.
related to road infrastructure, water supply schemes, and During the visit, PM Modi participated in the ‘Empowering Youth,
infrastructure in higher education etc. Transforming J&K’s event at the Sher-i-Kashmir International
Additionally, the Prime Minister laid the foundation stone for Conference Centre (SKICC) in Srinagar.
projects like the improvement of the Chenani-Patnitop-Nashri The Prime Minister also distributed appointment letters to more
Section, the development of Industrial Estates and the construction than 2,000 persons appointed in government service.

RAJASTHAN GOVERNMENT PLANS ROPEWAY TO Initially, plans aimed to link Nahargarh Fort with Jal Mahal,
CONNECT AMBER, JAIGARH, AND NAHARGARH FORTS situated in the midst of Man Sagar Lake, but have since
The Rajasthan government has unveiled plans to construct a been revised to connect Amber and Jaigarh forts via the
ropeway spanning 13 kilometres inside the Nahargarh Leopard ropeway. The forts are situated within the Nahargarh Leopard
Sanctuary, aiming to connect the historic Amber, Jaigarh, Sanctuary, managed by the forest department, which has
and Nahargarh forts to enhance tourist accessibility and posed regulatory challenges for the project. However, tourism
experience. department officials remain optimistic about securing
Unofficial estimates place the project cost at `400 crore. necessary approvals from the central government.
Amber Fort, the state’s most frequented tourist destination, Simultaneously, the tourism department is enhancing
welcomed 2 million visitors in the fiscal year 2023-24, a infrastructure around Amber Fort, including the development
significant increase from around 1 million in 2021-2022, of parking facilities and upgrades to the light and sound show.
according to government reports. Plans are underway to develop tourist amenities akin to those
Similarly, Nahargarh Fort observed 1.05 million footfalls in 2023- around the Taj Mahal, with provisions for hotels and restaurants
24 compared to 0.7 million in 2021-22, highlighting the growing near the fort for visitor convenience, while keeping parking
popularity of these heritage sites. areas situated away from the fort premises.
Officials from the Amber Development and Management The ropeway project underscores Rajasthan’s commitment to
Authority (ADMA) recently visited Amber Fort to discuss the promoting heritage tourism and improving visitor experiences,
ropeway project, which seeks to streamline tourist movement reinforcing the state’s position as a premier destination for
across these forts. cultural exploration and historical significance.

42 CONSTRUCTION OPPORTUNITIES|JUNE 2024