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

24 Dec 2024 CW Team

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.

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