Jawaharlal Nehru Port Trust, Maharashtra Maritime Board ink MoU to develop port

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Updated: June 6, 2015 12:44:22 AM

Jawaharlal Nehru Port Trust (JNPT) and the Maharashtra Maritime Board (MMB), on behalf of the government of Maharashtra, entered into a memorandum of understanding (MoU) to develop a new major port of close to Rs 6,000 crore in Dahanu taluka, off Wadhwan point in Maharashtra.

jnpt portJNPT would have an equity share not exceeding 74% and the Maharashtra government would have an equity share of 26% in the new port company. (Reuters)

Jawaharlal Nehru Port Trust (JNPT) and the Maharashtra Maritime Board (MMB), on behalf of the government of Maharashtra, entered into a memorandum of understanding (MoU) to develop a new major port of close to Rs 6,000 crore in Dahanu taluka, off Wadhwan point in Maharashtra.

The port would be established as a corporate port under the Companies Act, 2013 on the lines of Kamarajar Port, Ennore. JNPT would have an equity share not exceeding 74% and the Maharashtra government would have an equity share of 26% in the new port company.

The new port could be developed as a landlord port with the basic port infrastructure being developed by the port company and the berths, terminals and associated facilities being developed with private participation on the public-private partnership (PPP) model.

The development of this port assumes significance as after the commissioning of the fourth container terminal at JNPT, the port would be fully saturated and possibilities of further capacity addition would not be possible.

So, to meet the growing requirements of EXIM trade, the ministry of shipping along with chairmen of major port trusts, decided in July to establish a satellite port with good natural draft on the Maharashtra coast.

According to a press statement issued by the ministry on Friday, the area off Wadhawan was found most suitable as it was clear of fishing activity, has deep water contour of more than 20 metres, is only 4.5 nautical miles away from the coast and 2.5 nautical miles away from the rocky patches.

The area also has good rail and road connectivity and will also not require large land acquisition.

Port pact

JNPT , Maharashtra Maritime Board enter into an MoU to develop a new major port of close to Rs 6,000 crore off Wadhwan point in Maharashtra.

The new port could be developed with basic port infrastructure being developed by port company and berths, terminals, associated facilities being developed on PPP model.

The area has good rail and road connectivity and will not require large land acquisition.

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