Japan International Cooperation Agency (JICA) has offered to provide funds for the Vadhavan Port project. The total debt requirement for the project is estimated to be around Rs 215.98 billion in Phase I and Rs 56.85 billion in Phase II.
The project involves development of an all-weather port at Vadhavan, 140 km north of Mumbai in Maharashtra. It will be developed as a landlord port by Vadhavan Port Project Limited (VPPL), a joint venture (JV) of Jawaharlal Nehru Port Trust (JNPT) as the lead partner with equity participation of 74 per cent and Maharashtra Maritime Board with 26 per cent.
It will be developed at an estimated cost of Rs 762.2 billion with a capacity of 298 million tonnes per annum (mtpa) including 9.87 million twenty-foot equivalent units (TEUs). The port will be funded on a debt equity ratio of 70:30.