JNPA, Terminal Investment sign Rs 20,000cr deal for Vadhvan Port
TiL, majority owned by MSC, operates container terminals at key ports on the world's major shipping routes.
Jawaharlal Nehru Port Authority (JNPA) signed a memorandum of understanding (MoU) with Terminal Investment (TiL), majority owned by MSC Mediterranean Shipping Company, for the construction of Vadhvan Port.
The partnership agreement was exchanged by Unmesh Sharad Wagh, Chairman, JNPA and Deepak Tewari in the presence of Dhananjay Javdekar and Karan Tewari, says an official release from JNPA.
"TiL has proposed to invest an estimated ₹20,000 crore for the development of Vadhvan Port and the surrounding ecosystem. TiL, based out of Switzerland, has a diverse portfolio of container terminals at key ports on the world's major shipping routes, providing access to key mature and developing markets," the release added.
Wagh says: “The MoU with Terminal Investment marks a significant step in our vision for the Vadhvan Port, which is poised to redefine port infrastructure in India. 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. Together, we aim to create a port ecosystem that sets new benchmarks in efficiency and innovation.”
JNPA is developing an all-weather, deep-draft, greenfield port at Vadhvan in Maharashtra, which is poised to be among the top 10 ports globally and will be 100 percent green port from inception.
Vadhvan Port recently launched the Vadhvan Port Skilling Programme, which is designed for the youth of the region, the release added.
