+
TIL to Invest Rs.20,000 Crore in Maharashtra’s Vadhvan Port
PORTS & SHIPPING

TIL to Invest Rs.20,000 Crore in Maharashtra’s Vadhvan Port

In a major boost to India’s maritime sector, Switzerland-based Terminal Investment Limited Sarl (TIL) has committed to investing Rs 200 billion for the development of the Vadhvan Port and its surrounding ecosystem in Maharashtra’s Palghar district.

The ambitious port project, valued at Rs 762 billion, is being spearheaded by Vadhvan Port Project Ltd (VPPL), a special purpose vehicle where Jawaharlal Nehru Port Authority (JNPA) holds a 74% stake, and Maharashtra Maritime Board owns the remaining 26%.

JNPA announced the signing of a memorandum of understanding (MoU) with TIL, emphasizing that the collaboration would elevate Vadhvan Port into a global maritime hub.

“This partnership reflects the confidence of global investors in India’s maritime sector and ensures the integration of cutting-edge technology, sustainable practices, and world-class infrastructure,” said Unmesh Sharad Wagh, IRS, Chairman of JNPA and CMD of VPPL.

TIL, known for its expansive portfolio of container terminals located on key global shipping routes, aims to introduce innovative and efficient port management practices.

The Vadhvan Port project aligns with India’s broader efforts to enhance its maritime infrastructure and position itself as a leader in global trade, setting new benchmarks in sustainability and operational efficiency.

In a major boost to India’s maritime sector, Switzerland-based Terminal Investment Limited Sarl (TIL) has committed to investing Rs 200 billion for the development of the Vadhvan Port and its surrounding ecosystem in Maharashtra’s Palghar district.The ambitious port project, valued at Rs 762 billion, is being spearheaded by Vadhvan Port Project Ltd (VPPL), a special purpose vehicle where Jawaharlal Nehru Port Authority (JNPA) holds a 74% stake, and Maharashtra Maritime Board owns the remaining 26%.JNPA announced the signing of a memorandum of understanding (MoU) with TIL, emphasizing that the collaboration would elevate Vadhvan Port into a global maritime hub.“This partnership reflects the confidence of global investors in India’s maritime sector and ensures the integration of cutting-edge technology, sustainable practices, and world-class infrastructure,” said Unmesh Sharad Wagh, IRS, Chairman of JNPA and CMD of VPPL.TIL, known for its expansive portfolio of container terminals located on key global shipping routes, aims to introduce innovative and efficient port management practices.The Vadhvan Port project aligns with India’s broader efforts to enhance its maritime infrastructure and position itself as a leader in global trade, setting new benchmarks in sustainability and operational efficiency.

Related Stories

Gold Stories

Next Story
Real Estate

Kamdhenu Realities acquires 4-acre Navi Mumbai land parcel

Kamdhenu Realities has acquired a 4-acre land parcel from RPG Life Sciences on Thane-Belapur Road for approximately Rs 1.5 billion, expanding its commercial real estate portfolio in Navi Mumbai.The parcel has a total developable potential of 1.8 million sq ft, on which Kamdhenu plans to develop a destination-scale commercial and lifestyle ecosystem. The proposed development will combine corporate office suites with high-street retail, F&B outlets, double-height lobbies, business infrastructure and lifestyle amenities.Located close to IKEA and opposite the upcoming Pawane Railway Station, t..

Next Story
Infrastructure Transport

97 Per Cent Of Rongjeng-Mangsang-Adokgre Road Nears Completion

Deputy Chief Minister in-charge of public works Prestone Tynsong said in Shillong on 26 August that 97 per cent physical progress had been achieved on the ongoing Rongjeng-Mangsang-Adokgre road being constructed under the Non-Lapsable Central Pool of Resources (NLCPR). He noted the project was sanctioned in 2017 and that the stipulated time for completion had been 24 months from issue of the final work order. The deputy chief minister informed the assembly that the government had decided to include the remaining work under a World Bank project. In reply to a query from Rongjeng MLA Jim M Sangm..

Next Story
Infrastructure Transport

First TBM Starts Digging Five Point Three Kilometre Tunnel Under SGNP

The Goregaon-Mulund Link Road (GMLR) Phase three (B) project has reached a key milestone as the first tunnel boring machine (TBM) began excavation of the first of two tunnels beneath the Sanjay Gandhi National Park (SGNP). The machine, named Tulsi, started cutting a five point three kilometre bore that will link Dadasaheb Phalke Chitranagari in Goregaon East with Amar Nagar in Mulund West. Officials issued a statement noting the commencement of tunnelling work under the protected green belt. The twin tunnels are being constructed using mechanised tunnelling methods that aim to limit surface di..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code