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.

Next Story
Infrastructure Energy

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Next Story
Infrastructure Urban

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Next Story
Infrastructure Energy

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?