rss icon Subscribe
desktop mobile

India Approves $9Bn Deepsea Port Plan

Indian Prime Minister Narendra Modi. Photo: PIB

Laxman Pai

Indian government has green-lighted a mega container port, to be constructed at a cost of INR655.45bn ($9.2bn) at Vadhavan, around 160 km north-west of Mumbai.

The proposal to create the huge port - on a 'landlord model' - was cleared at a Union Cabinet meeting chaired by Prime Minister Narendra Modi.

The proposed port is set to catapult India among countries boasting the top 10 container ports in the world. At the moment, the largest container port in India is Jawaharlal Nehru Port Trust (JNPT), which sits in the 28th position among the world's top container ports, with annual throughput of 5.1m teu.

A Special Purpose Vehicle will be formed with Mumbai's JNPT as the lead partner, with equity participation of at least 50 per cent to execute the Wadhavan Port project.

The SPV will develop the port infrastructure including reclamation, construction of breakwater, besides establishing connectivity to the hinterland. All the business activities would be undertaken under PPP mode by private developers.

Feb 6, 2020

 

People & Company News

OSM Nears Deal to Acquire SeaTeam

© photobar / Adobe Stock

Norway-based ship management company OSM Maritime said Monday that it is nearing a deal to acquire

Charting Terradepth's Big Ambitions in the Unmanned Vehicle Space

The Terradepth leapfrog concept. Graphic from Terradepth.

Ocean mapping at scale is the target of a new unmanned systems player started by two ex-US Navy

Maersk Training Launches Training Management App

Scott Taylor, Maersk Training UK Head of Commercial (Photo: Maersk)

Maersk Training in the UK announced the launch of its upgraded Training Management Solution (TMS)

Ports

Germany Offered to Build LNG Terminals to Avert US Pipeline Sanctions

© Nord Stream 2 / Axel Schmidt

Berlin offered to spend 1 billion euros ($1.2 billion) to build two liquid natural gas terminals

DP World to Partner with Israeli Firm in Bid for Haifa Port

© LevT / Adobe Stock

Dubai's DP World is partnering with an Israeli group to bid for one of Israel's two main ports and

Port of Los Angeles Imports Soar

© trekandphoto / Adobe Stock

Port of Los Angeles container volumes hit an all-time high in August, as importers restocked

Maritime Apps