TIL to Invest ₹20,000 Crore in Vadhvan Port Development.

The Jawaharlal Nehru Port Authority (JNPA) announced recently that Switzerland-based Terminal Investment Limited Sarl (TIL) has committed to investing an estimated ₹20,000 crore in the development of Vadhvan Port and its surrounding ecosystem. The port, located near Dahanu in Palghar district, Maharashtra, is being developed by Vadhvan Port Project Ltd (VPPL), with a total investment of ₹76,200 crore.

VPPL is a special purpose vehicle, with JNPA holding a 74% stake and the Maharashtra Maritime Board owning the remaining 26%. The Memorandum of Understanding (MoU) signed between JNPA and TIL marks a significant step towards enhancing port infrastructure in India, with plans to transform Vadhvan Port into a world-class, future-ready facility.

Under the terms of the agreement, TIL will invest ₹20,000 crore in the development of the port and its surrounding ecosystem. TIL, known for its global portfolio of container terminals at strategic ports along major shipping routes, will play a key role in bringing cutting-edge technology and sustainable practices to the project.

Unmesh Sharad Wagh, IRS, Chairman of JNPA and CMD of VPPL, stated, "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." The collaboration aims to set new standards for port efficiency and innovation, further strengthening India's position in global trade.

ET