The Jawaharlal Nehru Port Authority (JNPA) has signed two memorandums of understanding (MoUs) worth Rs 400 billion with PSA (India) and CMA CGM for the Vadhavan Port project.
The project involves development of an all-weather port at Vadhavan, 140 km north to 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 as the lead partner with equity participation of 74 per cent and Maharashtra Maritime Board with 26 per cent at an estimated cost of Rs 762.2 billion with a capacity of 298 million tonnes per annum including 9.87 million twenty-foot equivalent units. The port will be funded on a debt equity ratio of 70:30.