Reliance Industries Limited (RIL) has signed a memorandum of understanding (MoU) with Vadhvan Port Project Limited (VPPL) for allocation of a liquid jetty along with 50 acres of land to set up a tank farm at Vadhavan Port, on January 21, 2025. With an estimated investment of Rs 6.45 billion, the liquid jetty project is likely to commence by 2030. The jetty and tank farm will support RIL’s petrochemical units being established at Palghar taluka.
Another MoU has been signed between VPPL and Dr. Balasaheb Kokan Krishi Vidyapeeth Dapoli for development and implemention of integrated agricultural and horticultural plan for shortlisted villages in Dahanu and Palghar in and around Vadhavan Port.
Further, the Housing and Urban Development Corporation (HUDCO), in an agreement with VPPL will provide funding up to Rs 250 billion for the development of new ports and public-private partnership projects.