Adani Group Eyes Major Investment in Vadhavan Port Expansion Project

Adani Ports and Special Economic Zone (APSEZ) has shown interest in investing Rs 53,000 crore in the Vadhavan Port project near Mumbai. They signed MoUs to participate in offshore projects and develop a container terminal. The port is expected to be among the top-10 in the world by size.

The Adani-led APSEZ announced its intention to participate in Rs 53,000 crore worth of projects at Vadhavan Port, near Mumbai. This strategic move involves signing two memoranda of understanding with the Jawaharlal Nehru Port Authority (JNPA), the primary stakeholder in this significant port venture in the Arabian Sea.

The first agreement, signed by APSEZ's Chief Executive Ashwani Gupta, outlines the company's interest in offshore initiatives at the port, valued at Rs 26,500 crore. The second MoU reinforces APSEZ's commitment to developing a container terminal with equal investment potential.

JNPA Chairman Unmesh Wagh highlighted that Vadhavan Port, poised to become one of the world's largest ports, will house nine container terminals. The Adani Group plans to engage in offshore projects such as building a breakwater. However, he emphasized that detailed bidding processes would follow to finalize investments.

(With inputs from agencies.)