UAE-based NMDC Group PJSC signs MoU with JNPA to invest Rs 21,000 crore for Vadhvan Port Project

by Psu Connect
Date: 19-02-25

JNPA holds 74 percent equity in the Vadhvan port project, while the remaining 26 percent is held by the Maharashtra Maritime Board (MMB).

Emirates-based Formerly Known as National Marine Dredging Company PJSC, NMDC Group PJSC has signed a memorandum of understanding (MoU) with the Jawaharlal Nehru Port Authority (JNPA) to commit Rs 21,000 crore in the Vadhvan port project.

Focussing on engineering, marine dredging, procurement, and construction, NMDC Group PJSC, based in Abu Dhabi, UAE, runs throughout the Middle East and beyond. Under the MoU, NMDC Group PJSC will dredge, reclamation, and beach protection help to develop the offshore land of the Vadhvan coast.

Chairman of JNPA, Unmesh Sharad Wagh, also chief managing director of Vadhvan Port Project Limited (VPPL), said: "The MoU between JNPA and NMDC Group PJSC is a significant step towards developing Vadhvan Port as a world-class maritime hub.

This collaboration brings global expertise to one of India’s most ambitious port projects, ensuring its strategic and sustainable development. With progress ahead of schedule, we are committed to accelerating infrastructure development and enhancing India’s port capabilities to meet future trade demands."

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JNPA holds 74 percent equity in the Vadhvan port project, while the remaining 26 percent is held by the Maharashtra Maritime Board (MMB). The project, valued at over Rs 76,220 crore, is being executed through VPPL, with Phase I expected to be completed by 2029.

Once complete, Vadhvan Port will become India’s 13th major and largest container port, with a cargo-handling capacity of 298 million metric tonnes (MMT) per annum, including 23.2 million twenty-foot equivalent units (TEUs).

The all-weather greenfield deep-draft port, located in Palghar district, Maharashtra, is being developed under a landlord model, with terminals built through public-private partnerships (PPP).

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