The Jawaharlal Nehru Port Authority on Monday announced that Switzerland-based Terminal Investment Ltd. Sarl has proposed an investment of approximately Rs 20,000 crore for the development of Vadhvan Port and its surrounding infrastructure.
The Vadhvan Port project, located near Dahanu in Palghar district, Maharashtra, is being developed by Vadhvan Port Project Ltd. with a total investment of Rs 76,200 crore. VPPL is a special purpose vehicle, with JNPA holding a 74% stake and the Maharashtra Maritime Board owning the remaining 26%.
As part of this initiative, JNPA has signed a memorandum of understanding with TIL. The collaboration marks a significant step towards enhancing India's port infrastructure and aims to transform Vadhvan Port into a world-class, future-ready facility.
According to the initial pact, TIL has proposed to invest an estimated Rs 20,000 crore for the development of the Vadhvan Port and the surrounding ecosystem, JNPA said.
TIL has a diverse portfolio of container terminals, strategically located at key ports on the world's major shipping routes, providing access to key mature and developing markets.
"This partnership not only reflects the confidence of global investors in India's maritime sector but also ensures the integration of cutting-edge technology, sustainable practices, and world-class infrastructure," said Unmesh Sharad Wagh, chief managing director of VPPL.
Together, the two partners aim to create a port ecosystem that sets new benchmarks in efficiency and innovation, he added.
(With PTI inputs)
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