Rs 1,000 crore plan to unlock waterfront assets in Mumbai

At an investment of over Rs 1,000 crore, Mumbai Port Trust (MbPT) has launched a slew of projects to unlock the potential of waterfront properties to transform the premier port into an attractive commercial and entertainment destination.   As per the master plan, a part of the port land will be utilised for other than port and port related activities. As reported, MbPT seeks to unlock the untapped commercial value of its land assets with the development of a marina, sea-front walkways, promenades, water sports, plazas, floating restaurants, public transport, entertainment hubs, heritage tourism places, convention centre and a marine museum. Sources reveal that 500 hectare has been identified for township development, and six bidders have been shortlisted, who have submitted concept designs and financial bids.   As far as the development of Mumbai Port as the gateway to international cruises in India is concerned, MbPT will give priority to cruise ships over cargo vessels, and assure them berthing facilities. Reports also indicate that it will redevelop Sassoon Dock into a vibrant, healthy and sustainable tourist destination, and develop a RoRo facility at Ferry Wharf to promote coastal shipping and passenger transport on Mumbai's east coast. What’s more, the port will also develop a fifth oil berth at Jawahar Deep to cater to fully-loaded Suez Max tankers and partly-loaded very large crude carriers (VLCC).