ADB, NSFTPL sign loan agreement for UOMT of JNCPT in Maharashtra

The Asian Development Bank (ADB) and Nhava Sheva Freeport Termi­nal Private Limited have signed a loan agreement worth Rs 10.66 billion ($131 million) for upgradation, operations, maintenance and tra­nsfer (UOMT) of the Jawaharlal Nehru Port Container Terminal (JNCPT). The financing package consists of $61.4 million from ADB’s ordinary capital resources and $69.6 million from Leading Asia’s Private Infrastructure Fund administered by ADB. The project involves berth upgradation and replacement/deployment of other equipment at JNCPT in Maharashtra on a UOMT basis under the public-private partnership model with a concession period of 30 years and at an estimated cost of Rs 8,720 million.