Mumbai, Oct 28: Gautam Adani-led APSEZ on Tuesday expressed intent to participate in projects of Rs 53,000 crore at the Vadhavan Port project near the financial capital.
MoUs signed with Jawaharlal Nehru Port Authority
Adani Ports and Special Economic Zone has signed two memoranda of understanding with the government-run Jawaharlal Nehru Port Authority, the biggest shareholder in the port project coming up in the Arabian Sea off the Palghar district.
Offshore projects and container terminal plans
The first MoU signed between APSEZ's Chief Executive and Whole-Time Director Ashwani Gupta is an intent by the Adani entity to participate at the Vadhavan Port for offshore projects worth Rs 26,500 crore.
In the second agreement, APSEZ has signed an MoU to affirm its intent to participate at Vadhavan Port for development of a container terminal to the tune of Rs 26,500 crore.
JNPA Chairman highlights global significance of Vadhavan Port
JNPA Chairman Unmesh Wagh said the Vadhavan Port, which is set to break into the top-10 in the world by size on day one, will have nine container terminals and the Adani Group entity has evinced interest in one of them.
Similarly, there will be a host of offshore works like building a breakwater, which the Adani group wishes to participate in, he added.
Clarification on MoUs and bidding process
He made it clear that the MoUs are only an interest evinced by the Adani group, and added that there will be detailed bidding for each of the works where it will have to submit its proposals.
Project ownership and port handling capacity
JNPA owns 76 per cent in the Vadhavan Port and the rest of the stake is with Maharashtra Maritime Board which falls under the state government.
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At present, JNPT is the largest container port in the country and handled 7.3 million TEUs in FY25, while the same for Adani group-run Mundra Port -- the largest port in the country -- was not immediately available.
APSEZ’s continued investment in Maharashtra
The MoUs by APSEZ come a day after the company committed to invest Rs 42,500 crore for expansion of the Maharashtra's Dighi Port to the south of the financial capital.
(Disclaimer: Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)
