MoPSW: MoU Worth Rs 30,000 Crore For Infrastructure Development Signed During Vibrant Gujarat Global Summit 2024

In a historic move, the Ministry of Ports, Shipping, and Waterways (MoPSW) has launched a transformative infrastructure development initiative aligned with the 2047 Vision.

Signifying a new era for Deendayal Port Authority (DPA), Kandla, a monumental Rs 10,000 crore memorandum of understanding (MoU) has been inked between DPA, Kandla, and Umeandus Technologies India Private Limited.

This strategic partnership aims at revolutionising transportation and logistics infrastructure, focusing on handling bulk, break-bulk, and container cargo.

The project is set to elevate the port's capacity to an impressive 300 million metric tonnes or beyond, ensuring both commercial viability and environmental sustainability.

This forward-looking endeavour is poised to generate employment opportunities for a significant workforce, providing jobs for at least 1,000 skilled and non-skilled staff and 10,000 during construction.

During the event, APM Terminals and Jawaharlal Nehru Port Authority (JNPA) signed a Rs 20,000 crore of memorandum of understanding (MoU) expressing their intent to invest in the Vadhavan Port Project.

The proposed Vadhavan port is a high-priority initiative for the government, the port is designed to handle an annual cargo capacity of 23 million TEUs or 254 million tonnes, boasting a natural draft of 20 metres to accommodate larger container vessels of up to 20,000 TEUs. Once completed, the project will rank among the world's top 10 largest ports and serve as a significant green fuel hub.

The momentous MoU signing ceremony witnessed the esteemed presence of Bhupendra Patel, the Chief Minister of Gujarat, and Sarbananda Sonowal, the Union Minister of Ports, Shipping, and Waterways.

This collaboration, graced by key dignitaries, underscores the significant commitment to advancing maritime infrastructure and heralds a new chapter in developing the region's transportation and logistics capabilities.

During the event, Sonowal said, "The Vibrant Gujarat Global Summit 2024, under the leadership of PM Modi, continues to be the longest and most prestigious investment summit. This global summit is a thriving and vibrant testament to the credibility and faith reposed by the entire world in the most successful Prime Minister in our nation’s history, Narendra Modi ji."

"India has made significant strides in the global maritime arena. Under the Sagarmala Programme launched by the Prime Minister for port-led industrialisation, 14 projects worth Rs 55,800 crore have been identified, with 9 projects totalling Rs 45,800 crore already completed. "

"The PM Gati Shakti National Master Plan and the National Logistics Policy have greatly enhanced the national logistics roadmap, facilitating swift port-led industrialisation and city development," Sonowal stated.

The event marked a pivotal moment with the unveiling of the 'Vision 2047' by dignitaries from the Gujarat Maritime Board (GMB). Aligned with India's AmritKaal Vision 2047 and Maritime India Vision 2030, this transformative document signifies a leap forward for Gujarat's maritime sector.

The Vision 2047 roadmap outlines strategic goals across short-term, mid-term, and long-term objectives, emphasising growth and sustainability. Initiatives include organisational restructuring, port modernisation, green initiatives, digital transformation, and maritime education.

The plan also involves greenfield port projects and aims for ultra-mega port status, reflecting a holistic approach to sustainable growth and technological advancement in the maritime sector.