India Moves Forward with Establishment of Wadhavan Port

Image Caption: Maritime Summit India

Jawaharlal Nehru Port Trust (JNPT) and Maharashtra Maritime Board have signed a Memorandum of Understanding (MoU) that relates to establishment of a Greenfield port at Wadhavan, Maharashtra.

The project forms part of Indian government’s initiative to build eight ports, with only three announced so far, those being Wadhwan in Maharashtra, Sagar in Bengal and Colachel in Tamil Nadu entailing an investment of Rs 25,000 crore.

Once completed the new port will allow large size ships to enter Indian waters and will also help decongest JNPT and Mumbai Port, India’s Shipping Ministry said, announcing the deal.

Phase I of the project is estimated to cost around Rs 9167 crores.

Local media said that the proposed port will have a capacity of 40-60 million tonnes, with JNPT taking a 74% stake in the project while the state government would hold the rest.

The MoU was signed during the first day of the Maritime India Summit taking place from 14 to 15th of April, in Mumbai when a total of 22 agreements worth around Rs 31000 crs were signed.

In all, nearly 140 MoUs/business deals will be signed over two days totaling in more than USD 12 bn (Rs 83000 crores) of investments. Projects cover port development and modernization, development of inland waterways, ship building, setting up of LNG terminals and power plants.

These include Petronet LNG’s MoU with Inland Waterways Authority of India to facilitate greater use of LNG in inland water transport along with Cochin Shipyard Limited’s deal with Samsung Heavy Industries to formalize technical cooperation for building LNG ships in India.

Moreover, Adani group announced plans to invest around Rs 28000 crs over next five years in various projects, including investments in new ports in Odisha and Gujarat.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Dec 2017 >>
MTWTFSS
27 28 29 30 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

Shipping 360

This course is ideal for those who have recently joined the maritime sector and those who need to have a better understanding…

read more >

APM – ASIA PACIFIC MARITIME 2018

27 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia trusted by generations of industry professionals.

read more >

Shippax Ferry Conference 2018

The two-day onboard ferry conference was first organized in 2003 and grows ever more popular with some 400 delegates from over 40 ferry…

read more >

8th Dredging & Land Reclamation World Summit 2018

The 8th Dredging and Land Reclamation Summit 2018 will gather the decision makers from Authorities and Operators responsible for ports…

read more >