State-run Jawaharlal Nehru Port Authority (JNPA) has signed two memorandums of understanding with PSA (India) and CMA CGM for the development of the Rs 76,000 crore greenfield port at Vadhavan in Maharashtra.
“Two memorandums of understanding were signed for a total of Rs 40,000 crore between JNPA and PSA (India), and JNPA and CMA CGM for the development of the greenfield port at Vadhavan,” JNPA said in a statement.
The new container port will have the capacity of 24 million TEUs. The port has been planned as the capacity of the Jawaharlal Nehru port is expected to get exhausted by 2030.
“As we mark 35 years of JNPA’s journey, we look back on our accomplishments in advancing India’s maritime infrastructure. Our dedication to innovation, efficiency, and sustainability has established JNPA as a leader in global port operations. This milestone underscores the commitment of our team and the support of our stakeholders,” Unmesh Sharad Wagh, Chairman, JNPA, said.
JNPA has also pledged Rs 3.5 crore to equip 38 Eklavya model schools with 1000 computers and 100 tablets within the next 2 months.
“By April next year, with the addition of the BMCT terminal, JNPA’s capacity will reach 10.4 million TEUs, solidifying its position as India’s largest port,” Wagh added.
The port recently achieved a historic milestone by recording it’s highest-ever throughput of 6.43 million TEUs in the fiscal year 2023-24.