News Brief
Maharashtra’s Vadhvan Port Project Gets Rs 21,000 Crore Push As JNPA, NMDC Group Sign MoU
(Representative image)
In a major step towards bolstering India’s maritime infrastructure, the Jawaharlal Nehru Port Authority (JNPA) has signed a Memorandum of Understanding (MoU) with NMDC Group PJSC for the development of the greenfield Vadhvan Port in Maharashtra’s Palghar district, reported PTI.
The agreement, announced on Tuesday (18 February), will see NMDC Group investing around Rs 21,000 crore towards dredging, reclamation, and shore protection for the upcoming port project.
The MoU was formalised between JNPA Chairman and Managing Director Unmesh Sharad Wagh and NMDC Group Chief Executive Officer Yasser Zaghloul.
The Vadhvan project, estimated to cost Rs 76,200 crore, is being spearheaded by Vadhvan Port Project Ltd (VPPL), a special purpose vehicle in which JNPA holds a 74 per cent stake, while the Maharashtra Maritime Board owns the remaining 26 per cent.
NMDC Group PJSC, formerly known as National Marine Dredging Company PJSC, is a globally recognised player in engineering, marine dredging, procurement, and construction.
Headquartered in Abu Dhabi, it has a strong presence across the Middle East and beyond.
The Vadhvan Port, set to be a world-class maritime facility, will significantly enhance India’s trade capabilities, streamline cargo handling, and strengthen its position in global shipping networks.
