NMDC Group PJSC Signs Rs 210-bn Investment Deal with JNPA for Vadhvan Port

20 Feb 2025 CW Team

NMDC Group PJSC has finalised an investment agreement worth Rs 210 billion with Jawaharlal Nehru Port Authority (JNPA) for the greenfield Vadhvan Port project in Maharashtra’s Palghar district. The agreement, formalized through a memorandum of understanding (MoU), outlines NMDC Group’s commitment to developing the offshore land near the Vadhvan coast.

As part of the project, NMDC Group will undertake dredging, reclamation, and shore protection to facilitate the construction of the port. These activities are expected to enhance maritime infrastructure, supporting trade and logistics in the region. The investment aligns with broader efforts to expand port capacity and improve India’s coastal trade connectivity.

Vadhvan Port is anticipated to be a significant addition to India's port infrastructure, helping to decongest existing ports and accommodate larger vessels. The strategic development is expected to boost economic growth, generate employment opportunities, and strengthen India’s position as a global maritime hub.

NMDC Group, formerly known as National Marine Dredging Company PJSC, is a leading player in marine and offshore development. Its involvement in the Vadhvan Port project reflects its expertise in large-scale dredging and port construction. The collaboration with JNPA is a crucial step in advancing the port’s development, aligning with India’s long-term vision for port-led growth and maritime expansion.

News source: PTI

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