Gautam Adani-led Adani Ports and Special Economic Zone (APSEZ) has expressed intent to participate in projects worth Rs 530 billion at the upcoming Vadhavan Port near Mumbai.

The company has signed two memoranda of understanding (MoUs) with the government-run Jawaharlal Nehru Port Authority (JNPA), the majority stakeholder in the deep-draft port being developed in the Arabian Sea off Maharashtra’s Palghar district.

The first MoU, signed by APSEZ Chief Executive and Whole-Time Director Ashwani Gupta, outlines the company’s interest in offshore works valued at Rs 265 billion. The second MoU affirms APSEZ’s intent to develop a container terminal of similar scale, also worth Rs 265 billion.

JNPA Chairman Unmesh Wagh said the Vadhavan Port, expected to rank among the world’s top ten ports by capacity from the outset, will feature nine container terminals, with the Adani Group expressing interest in one.

He added that the company is also keen to participate in offshore works, such as constructing a breakwater. However, Wagh clarified that the MoUs merely represent an expression of interest, and APSEZ will need to participate in formal bidding processes for each project component.

Currently, JNPA holds a 76 per cent stake in the Vadhavan Port project, while the remaining 24 per cent is owned by the Maharashtra Maritime Board.

JNPT, India’s largest container port, handled 7.3 million TEUs in FY25. Meanwhile, Adani Group’s Mundra Port remains the country’s largest by overall cargo volume.

The Vadhavan Port MoUs come a day after APSEZ announced an investment of Rs 425 billion to expand Maharashtra’s Dighi Port, underscoring the group’s growing focus on strengthening India’s maritime infrastructure.