JNPA seeks private partners for a Rs 20,600 crore land reclamation project to build a greenfield container port in Maharashtra.
The construction of a greenfield container port at Vadhvan in Maharashtra is set to take off as the Jawaharlal Nehru Port Authority (JNPA) has invited Expressions of Interest (EoI) from investors and private developers. The Rs 20,647 crore EOI seeks a partner to handle land reclamation for the port and build an offshore protection bund. The project involves dredging the approach channel, reclaiming 1,227 hectares of offshore area, and utilising 200 million cubic meters of reclamation material.
The land reclamation and bund construction will be implemented in the public-private partnership (PPP) mode, utilising the Hybrid Annuity Model (HAM). The selected entity will finance, execute, maintain, and transfer the facility to JNPA after the concession period. Under the payment structure, 40 percent will be paid as a fixed amount in five installments, while the remaining 60 percent will be a variable annuity after project completion based on asset value.
Earlier, on June 19, the Union Cabinet approved the development of the Vadhvan Port project, an all-weather greenfield deep draft major port located about 150 km north of Mumbai. Vadhavan Port Project Limited (VPPL), a Special Purpose Vehicle (SPV) formed by JNPA and the Maharashtra Maritime Board (MMB), will develop the port at an estimated cost of Rs 76,220 crore.
The port will operate under the landlord model, with VPPL developing basic infrastructure like breakwaters, rail and road connectivity, power, water lines, and common services. Dredging, reclamation, and bund construction will be implemented through PPP models, while cargo and container terminals will be managed by concessionaires.
The port’s development will be phased to match traffic demands. Phase 1 aims to handle 6.85 million twenty-foot equivalent units (TEUs) by 2030, expanding to 23.2 million TEUs by 2040 (Phase 2). These capacities will boost trade through corridors like the India-Middle East-Europe Economic Corridor (IMEEC) and the International North-South Transportation Corridor (INSTC). The project is expected to stimulate economic activity and create approximately 1.2 million jobs, benefiting the local economy significantly.
