The Nehru Port Authority has announced that terminal operator TIL (a subsidiary of MSC) has proposed to invest about Rs 200 crore (about 17.2 billion yuan) to develop Vadhvan Port.
Wadwan Port is located in Maharashtra state on the west coast of India, west of the Arabian Sea, with a total investment of about Rs 762 crore, and is being developed by the Wadwan Port Project Company (VPPL), which is jointly established by the Nehru Port Authority (JNPA) and the Maharashtra Maritime Authority (MMB). They hold 74% and 26% respectively.
Upon completion, Port Wadwan will have an annual shipping capacity of 23.3 million TEU, aiming to be among the top 10 container ports in the world. The Nehru Port Authority said it had signed a Memorandum of understanding (MOU) with TIL and the partnership would further improve port infrastructure in India and build Port Wadwan into a world-class port of the future. Previously, the Nehru Port Authority had signed cooperation agreements with operators such as PSA, DP World and CMA CGM to develop Wadhwa Port.