UAE-based NMDC Group PJSC to invest Rs 21,000 cr for Vadhvan Port Project

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NMDC Group PJSC, formerly National Marine Dredging Company PJSC, has signed a memorandum of understanding (MoU) with the Jawaharlal Nehru Port Authority (JNPA) to invest Rs 21,000 crore in the Vadhvan port project.

 

NMDC Group PJSC, headquartered in Abu Dhabi, UAE, operates across the Middle East and beyond, focusing on engineering, marine dredging, procurement, and construction.

 

Under the MoU, NMDC Group PJSC will invest in developing the offshore land of Vadhvan coast, involving dredging, reclamation, and shore protection.

 

Unmesh Sharad Wagh, chairman, JNPA, and chief managing director, Vadhvan Port Project Ltd (VPPL), said:

"The MoU between JNPA and NMDC Group PJSC is a significant step towards developing Vadhvan Port as a world-class maritime hub. This collaboration brings global expertise to one of India’s most ambitious port projects, ensuring its strategic and sustainable development. With progress ahead of schedule, we are committed to accelerating infrastructure development and enhancing India’s port capabilities to meet future trade demands."

 

JNPA holds 74 per cent equity in the Vadhvan port project, while the remaining 26 per cent is held by the Maharashtra Maritime Board (MMB). The project, valued at over Rs 76,220 crore, is being executed through VPPL, with Phase-I expected to be completed by 2029.

 

In January 2025, the project received investment commitments of:

 

• Rs 645 crore from Reliance Industries
• Rs 25,000 crore from the Housing and Urban Development Corporation (HUDCO)

 

In December 2024, Terminal Investment Ltd Sàrl (TIL), a Switzerland-based terminal operator, signed an MoU to invest Rs 20,000 crore for the construction of Vadhvan Port.

 

That same month, VPPL awarded an engineering, procurement, and construction (EPC) contract worth Rs 1,648 crore to ITD Cementation India Ltd for the development of 200 hectares of near-shore land at Vadhvan Port.

 

In an earlier interaction with Business Standard, Wagh stated that road construction for the project would begin in March or April 2025. "We are ahead of schedule and will complete this project before the deadline," he added.

 

Once complete, Vadhvan Port will become India’s 13th major and largest container port, with a cargo-handling capacity of 298 million metric tonnes (MMT) per annum, including 23.2 million twenty-foot equivalent units (TEUs).

 

The all-weather greenfield deep-draft port, located in Palghar district, Maharashtra, is being developed under a landlord model, with terminals built through public-private partnerships (PPP).

 

Wagh said, "We do not require any funds for the next two years. We will first exhaust equity. From 2027 onwards, we will require funds, but financing is not an issue."