The chief minister Devendra Fadnavis on Monday gave the nod for the Rs. 775 crore railway line project which connects Jaigad Port with Konkan Railway through a public and private partnership to boost infrastructure and industries in Raigad district of Maharashtra.
The chief minister signed a memorandum of understanding with the Jaigad Port Company Private Limited and Konkan Railway for the 34 km railway tracks with the total cost of Rs 775.
Fadnavis said, “The port development will not only boost the trade but also go a long way in development of the infrastructure in the region. It would also provide new opportunities to the locals in employment.”
The state and centre are working in tandem to promote the developments of ports through PPP model in Maharashtra. At present the Jawaharlal Nehru Port Trust (JNPT) is already overloaded. The state government reckons there is a need to provide alternative to decongest the existing ports.
The project which is expected to complete in 24 months will boost the port activities and develop infrastructure in the Konkan region. The
chief minister said, “ The railway connectivity with the Jaigad Port will boost the import and export of goods which often is languishing
for months in absence of connectivity.” The stake holders in the project are Konkan Railways (26% equity), Maritime Board (11% ) and Jaigad Port Pvt Limited (63%).
Another multi-purposes project worth Rs 1000 crore Karanja Port Terminal in district Raigad was also launched on Monday. The project
which is also being promoted through public private partnership between Karanja Terminal and Logistic Pvt Limited and Maritime Board
is expected to complete in two years.