JNPA signs MoU with Terminal Investment Limited Sàrl for Vadhvan Port project
Jawaharlal Nehru Port Authority (JNPA), India’s Best Performing Port, has signed a Memorandum of Understanding (MoU) for the construction of the Vadhvan Port Project Ltd (VPPL), establishing an important collaboration with Terminal Investment Limited Sàrl (TiL), on Monday, December 23, 2024. This partnership demonstrates JNPA’s dedication to improving port infrastructure in India and turning Vadhvan into a world class port of the future. The MoU was exchanged by Mr Unmesh Sharad Wagh, IRS, Chairman, JNPA and CMD, VPPL, and Capt. Deepak Tewari, in the presence of Mr Dhananjay Javdekar and Mr Karan Tewari.
According to the MoU, TiL has proposed to invest an estimated `20,000 crore for the development of Vadhvan Port and the surrounding ecosystem. With this, Terminal Investment Limited Sàrl is demonstrating its strong commitment to India’s marine development. TiL, based out of Switzerland, has a diverse portfolio of container terminals strategically located at key ports on the world’s major shipping routes, providing access to key mature and developing markets.
Speaking on the occasion, Mr Unmesh Sharad Wagh said: “The MoU with Terminal Investment Limited Sàrl marks a significant step in our vision for the Vadhvan Port, which is poised to redefine port infrastructure in India. This partnership not only reflects the confidence of global investors in India’s maritime sector but also ensures the integration of cutting-edge technology, sustainable practices and world class infrastructure. Together, we aim to create a port ecosystem that sets new benchmarks in efficiency and innovation.”
VPPL also recently launched the Vadhvan Port Skilling Program, designed for the youth of the Vadhvan region. MoUs have been inked between DG Shipping and JNPA to provide skill development training through selected Maritime Training Institutes (MTIs), informed a release.
Source: Exim News Service: Navi Mumbai, Dec. 25