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 (JNPA) that could see NMDC invest nearly INR 210 bn (c. USD 2.4 bn) into Mumbai’s Vadhvan Port, according to a statement. Under the agreement, NMDC will tap into 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 will 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, positioning it among the top 10 largest ports globally.

Targeting exports: The Vadhvan Port — poised to be the starting port for the India-Middle East-Europe Economic Corridor (IMEC) — is set to expand the country’s export capability significantly. The port’s position along the Arabian Sea coast and proximity to Mumbai and Gujarat makes it an attractive trade gateway for the region, as it is also connected to northern and central India via the national railway network and the NH8 highway.

REMEMBER- The IMEC project kicked off operations back in June to 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 local player to have hands in the port: Logistics giant DP World inked an MoU with JNPA to develop India’s Vadhvan Port back in October 2023.

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