UAE-based NMDC Group PJSC (formerly National Marine Dredging Company PJSC) and the Jawaharlal Nehru Port Authority (JNPA) have formalized a Memorandum of Understanding (MoU) on Tuesday, outlining a proposed investment of ₹21,000 crore for the development of offshore land for Vadhvan Port in Maharashtra.
The project scope includes dredging, reclamation, and shore protection works. According to an official release, Unmesh Sharad Wagh, IRS, Chairman, JNPA, emphasized the strategic importance of the collaboration, stating, "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."
Industry sources indicate that the Vadhvan Port project is aimed at significantly increasing India's port capacity to handle growing international trade. The project is expected to be a deep-draft port capable of accommodating larger vessels, thereby enhancing efficiency and reducing logistics costs.
NMDC Group PJSC is a leading UAE-based engineering, procurement, and construction (EPC) contractor primarily focused on dredging and land reclamation, marine construction, and oil & gas infrastructure.
Jawaharlal Nehru Port Authority, also known as JNPT, is India's largest container port.