Two powerful bidding groups are taking shape to compete for the ₹19,238.57-crore dredging, reclamation, and offshore protection bund contract for the upcoming Vadhvan Port in Maharashtra — India’s largest port development under the Public-Private Partnership (PPP) Hybrid Annuity Mode (HAM).
One consortium comprises Royal Boskalis B.V. and NMDC Dredging & Marine, a unit of Abu Dhabi-backed NMDC Group. The rival group includes Adani Ports and Special Economic Zone Ltd, Van Oord, Jan De Nul, and International Seaport Dredging Pvt Ltd (ISDPL) promoted by DEME Group.
“This is a complex job, but we are confident in our financial and technical strengths, supported by the Abu Dhabi government,” said Niels de Bruijn, CEO of NMDC Dredging & Marine.
This marks the first time dredging and reclamation works for a new Indian port are being executed under the HAM model, which aims to share risk, promote competition, and ensure timely completion.
The ₹76,220-crore Vadhvan Port Project Ltd, a joint venture between Jawaharlal Nehru Port Authority (74%) and Maharashtra Maritime Board (26%), plans to develop the port with an annual capacity of 298 million tonnes (mt), including 23.2 million TEUs.
The dredging and reclamation will cover 1,207 hectares in two phases, with a 45:55 payment ratio between the project authority and the PPP operator over a 15-year concession period.
Once completed, Vadhvan Port will feature nine container terminals, over 100 quay cranes, liquid cargo berths, Ro-Ro facilities, and extensive logistics infrastructure — positioning it among the most advanced ports in Asia.