Massive Investment Boost: NMDC Group & JNPA Unite for Mega Vadhvan Port Project

NMDC Group PJSC has signed a significant investment agreement with Jawaharlal Nehru Port Authority for the development of the Vadhvan Port project in Maharashtra. The investment, worth Rs 21,000 crore, aims to enhance infrastructure through dredging and reclamation. Vadhvan Port Project Ltd spearheads the initiative, with JNPA holding a majority stake.

NMDC Group PJSC and Jawaharlal Nehru Port Authority have entered a pivotal Rs 21,000 crore investment partnership for the ambitious Vadhvan Port project in Maharashtra's Palghar district, declared JNPA on Tuesday.

The arrangement was formalized under a memorandum of understanding between JNPA Chairman Unmesh Sharad Wagh and NMDC Group CEO Yasser Zaghloul. The investment focuses on developing offshore land at Vadhvan coast through dredging and reclamation.

Formerly National Marine Dredging Company PJSC, NMDC Group aims to elevate India's port infrastructure and has aligned with JNPA's vision to position Vadhvan Port among the world's top 10. The company is based in Abu Dhabi and extends its operations across engineering and marine sectors.