Vadhvan Port Project Invites Global Bids for ₹19,239 Crore Dredging, Reclamation Works.

The Vadhvan Port Project is moving forward with its ambitious development plans, calling for global bids for a massive ₹19,238.57 crore dredging, offshore reclamation, and shore protection project. This is the first time such work for a new port in India is being executed under a Public-Private-Partnership (PPP) Hybrid Annuity Mode (HAM).

The project is being implemented by Vadhvan Port Project Ltd, a joint venture between the state-owned Jawaharlal Nehru Port Authority (74% stake) and the Maharashtra Maritime Board (26% stake). The new port, with a total estimated cost of ₹76,220 crore, is set to become India's largest public port, capable of handling 298 million tonnes of cargo annually.

The dredging and reclamation work will be carried out on 1,207 hectares of reclaimed land in two phases. The first phase is estimated to cost ₹14,301.35 crore, and the second phase ₹4,937.23 crore. The project will be managed under a 15-year concession period, including a five-year construction phase and ten years for operation and maintenance. The winning bidder will be selected based on the lowest quoted cost.

Under the HAM model, payments will be structured with 45% of the upfront costs covered by Vadhvan Port Project Ltd and 55% by the private PPP operator. Officials stated that this approach is designed to promote competitive bidding, share risk with private partners, and ensure the timely completion of Phase I of the port by 2030.

In addition to the dredging project, Vadhvan Port Project Ltd has also opened bids for a ₹5,300 crore, 10.14 km-long breakwater, a crucial component for the new port's construction. Once the core infrastructure is complete, the port's cargo terminals will be developed under a separate PPP model.

The new port will feature nine container terminals with a total quay length of 9,000 meters, along with dedicated berths for liquid cargo, Ro-Ro facilities, and other specialized goods.