Mumbai Port Authority (MbPA) has held the first pre-bid meeting for the Viksit Bharat Mumbai Marina project, attracting more than 35 industry representatives from the marina and marine services, infrastructure, port development, shipping, logistics, hospitality, finance and advisory sectors. The meeting was held at Port Bhavan on 30 October 2026, with participants attending both in person and online.The marina, proposed at Victoria Dock, will be developed on a Design, Build, Finance, Operate and Transfer (DBFOT) basis under a 45-year concession. The project has an estimated cost of Rs 9.23 billion and will have a protected water area of 37.3 hectares, with capacity for 604 yachts at full build-out.MbPA will execute the marine works for the first 424 berths, while the concessionaire will develop the landside facilities. These will include a five-star hotel, tourism business centre, sailing school, yacht club, repair yard, dry stack and fuel station. The port authority said environmental and Coastal Regulation Zone (CRZ) clearances had been obtained for the entire project area.Concession terms and bidding parametersThe bid parameter is the percentage share of gross revenue payable to MbPA, with a minimum floor of 11.50 per cent, fixed for the entire concession period. User charges will be determined by the market.The concession provides for up to 10 years of protection against a competing yacht marina within MbPA limits. It also permits berthing and repair yard operations before the Commercial Operations Date (COD). The tender includes an Integrity Pact with two Independent External Monitors (IEMs).Dr M Angamuthu, IAS, Chairperson, Mumbai Port Authority, said the interest shown by representatives from the marine, infrastructure, hospitality and finance sectors at the first pre-bid meeting was encouraging. He said the authority had undertaken the marine works and secured the required clearances to enable investors to focus on developing a public-facing maritime destination for Mumbai.MbPA will issue a corrigendum addressing pre-bid queries by 18 November 2026. The second pre-bid meeting is scheduled for 25 November 2026. Bids must be submitted by 3 pm on 15 December 2026, with technical bids scheduled to open on the e-procurement portal at 3.30 pm on 18 December 2026. The bidding documents are available on the MbPA e-procurement portal.The project is intended to open part of Mumbai's working harbour to marine tourism, sailing, yacht services and waterfront activities, while retaining port operations and safety as priorities. It forms part of MbPA's wider initiatives in cruise tourism, harbour services and waterfront development, which include the Mumbai International Cruise Terminal, water taxi network and heritage waterfront precincts.