Jawaharlal Nehru Port Authority (JNPA) said it has signed a Memorandum of Understanding (MoU) with Terminal Investment Ltd. (TIL) for the construction of the Vadhvan Port Project Ltd. (VPPL) in Maharashtra.
As per the MoU, TIL will invest an estimated ₹20,000 crore for the development of the Vadhvan Port and the surrounding ecosystem.
TIL, based out of Switzerland, has a diverse portfolio of container terminals, located at key ports on the world’s major shipping routes, providing access to developed and developing markets.
Unmesh Sharad Wagh, IRS, Chairman, JNPA and CMD, VPPL, said, “The MoU with Terminal Investment Ltd Sàrl marks a significant step in our vision for the Vadhvan Port, which is poised to redefine port infrastructure in India.
“This partnership not only reflects the confidence of global investors in India’s maritime sector but also ensures the integration of cutting-edge technology, sustainable practices, and world-class infrastructure. Together, we aim to create a port ecosystem that sets new benchmarks in efficiency and innovation,” he said.
Published – December 23, 2024 07:58 pm IST