NMDC to invest bns in Indian port project: Abu Dhabi-based National Marine Dredging Company (NMDC Group) inked an MoU with India’s Jawaharlal Nehru Port Authority (JNPA) to invest nearly INR 210 bn (c. USD 2.4 bn) into Mumbai’s Vadhvan Port, according to a statement. Under the agreement, NMDC will develop dredging, reclamation, and shore protection operations at the port’s offshore land, the Economic Times reports.

What’s on the cards for Vadhvan: India’s mega port is currently under construction and is set to feature nine container terminals, each stretching 1 km in length. It will include specialized berths for wheeled and liquid cargo, as well as one for the coast guard. Slated to be finished by the end of the decade, the USD 9 bn port will be capable of handling around 23 mn container units when it reaches full capacity, possibly positioning it among the top 10 largest ports globally.

A strategic location: The Vadhvan Port — poised to be the starting port for the India-Middle East-Europe Economic Corridor (IMEC) — boasts a strategic location that is set to make it a strategic trade gateway for the region and expand the country’s export capability. It is located along the Arabian Sea coast, with proximity to India’s most populous city Mumbai, and the industrial centers of Gujarat state. The port will also have access to northern and central India via the national railway network and the NH8 highway

REMEMBER- The IMEC reportedly kicked off operations back in June with a focus on establishing the first leg between India and the UAE via sea and rail links. Efforts are currently underway to streamline procedures across the Indian ports of Mundra, Kandla, and Nhava Sheva, as well as the UAE ports of Jebel Ali and Fujairah.

Not the first interested party: Logistics giant DP World inked an MoU with JNPA to develop India’s Vadhvan Port back in October 2023.

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