JNPA Sets Qualification Norms for Vadhvan Port Project Bids

03 Dec 2024 CW Team

The Jawaharlal Nehru Port Authority (JNPA) has finalised qualification criteria for entities bidding on dredging, offshore reclamation, and shore protection works worth Rs 206.47 billion for the upcoming Vadhvan Port. The move follows the BJP-led alliance’s electoral victory in Maharashtra, accelerating the port's development. To qualify, bidders must demonstrate technical capability of at least Rs 151.13 billion, based on experience in two categories: Public-Private Partnership (PPP) projects in port and core sectors, and construction projects in these sectors over the last decade. Eligible port projects include terminals, jetties, dredging works, offshore reclamation, breakwaters, and other related infrastructure. Core sector projects span highways, airports, railways, industrial parks, water supply, and real estate, among others. Bidders must also meet financial requirements, including a minimum net worth of ?2,267.04 crore as of the previous financial year. In consortiums, members contributing at least 26% equity must maintain this share for six months post-commercial operation and meet individual net worth requirements of 7.5% of the project’s Phase-1 cost. Additionally, bidders need a minimum credit rating of A- or a banker’s assurance of credit facilities. The JNPA board approved the project on November 14, opting for a Hybrid Annuity Model (HAM) to execute the work in two phases. Phase 1 will reclaim 800 hectares over three years, with contractors receiving 60% of the contract value during this period. Phase 2 will reclaim an additional 400 hectares over two years. The remaining 40% of the contract value for both phases will be paid during a ten-year maintenance period, excluding maintenance dredging. The PPP HAM model, a first for Indian port projects, combines features of Engineering, Procurement, and Construction (EPC) with deferred payments, reducing JNPA’s borrowing requirements for the Rs 762.20 billion project. Vadhvan Port, developed by Vadhvan Port Project Ltd—a joint venture between JNPA (74%) and Maharashtra Maritime Board (26%)—is set to be India’s largest public port, capable of handling 298 million tonnes of cargo annually. The proposal awaits approval from the Public-Private Partnership Appraisal Committee before bidding begins. (ET)

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..