The new port will be developed in two phases under the landlord model, in accordance with government policy, by Vadhavan Port Project Ltd. This entity is a joint venture between Jawaharlal Nehru Port Authority Ltd., holding a 74% stake, and the Maharashtra Maritime Board.

Preliminary approval for the project was granted by the central government on February 13, 2020, with the terms of reference approved on October 7 of the same year. The Dahanu Taluka Environment Protection Authority subsequently endorsed the port on July 31, 2023. (Source: NDTV Profit)