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

Alphabet Winds Down Makani

Image: Makani

Alphabet, Google's parent company, announced that it is calling it quits on its efforts to build

Maersk to Buy U.S. Warehousing and Distribution Firm

Danish shipping group A.P. Moller-Maersk said on Wednesday it had agreed to buy U.S. warehousing and distribution firm Performance Team as part of plans to deliver more

Younger Wins Engineering Award

Buck Younger, third from left, was named the Marine Engineer/Naval Architect of the Year. Attending the awards presentation were VT Halter Marine’s Alvin Erkhart, Vice President of Production, Kevin Amis, Executive Vice President of Operations, and Rob Mullins, Deputy President. (Photo: VT Halter)

Buck Younger, Vice President of Engineering with VT Halter Marine, was named the Marine

Ports

Port of Maputo Deepening Ops Complete

Photo: Jan De Nul Group

Jan De Nul Group reports that it has finished the maintenance dredging operations in the Port of

Wärtsilä Navi-Port Tested for Just-in-time Sailing

Photo: Wärtsilä

Wärtsilä, together with project partners Carnival Maritime and HVCC Hamburg Vessel Coordination

Hapag-Lloyd: Asia Business 'Overall Stable' Amid Virus Outbreak

(Photo: Hapag-Lloyd)

German container shipping line Hapag-Lloyd said on Tuesday its business in Asia was "overall stable

Maritime Apps