JNPT, MbPT aiming to get Rs 47,000 crore in investment proposals ahead of government summit

Two state-run ports in the Mumbai metropolitan region announced on Wednesday that they are in the process of landing over Rs 47,000 crore in investment proposals for infrastructure development from private sector and government entities.

The announcements, which come a week ahead of the Union government-organised Maritime India Summit, include over Rs 20,000 crore in investments eyed by the Mumbai Port Trust and over Rs 27,000 crore by Jawaharlal Nehru Port Trust, the biggest container port in India located across the harbour.

MbPT chairman Rajiv Jalota said a bulk of the investments in the port, one of the oldest in the country, are from the oil and gas and cruise shipping sectors.

He specified that the port has already signed Memoranda of Understanding (MoUs) entailing investments of over Rs 7,500 crore, which include a Rs 3,000 crore proposal from Cordella Cruises Waterways Leisure, which will purchase ships to take tourists around the country and outside.

The port has also signed a deal with state-run oil marketing companies BPCL and

, which entails a Rs 1,500 crore investment to reclaim a 30-acre land parcel in the sea near the Jawahar Dweep and building oil storage tanks on it, Jalota said.

The much bigger JNPT’s chairman Sanjay Sethi said it has already signed MoUs entailing an investment of Rs 23,000 crore and pacts of over Rs 4,000 crore are on its way, and added that the port will look at more investments in the next week.

A bulk of the MoUs signed by the port are for investments in an upcoming Special Economic Zone (SEZ) next to the port, he said, naming companies like DP World, J M Baxi and Co, Ganesh Benzo, BPCL, NITIE as among the entities with which it has signed the investment pacts.

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He said ideally, the plan was to do the signings at the summit itself but the ongoing pandemic has resulted in a staggered signing of the MoUs ahead of the summit, which will be held virtually.

Meanwhile, when asked about private sector Adani Group winning the bid for Dighi Port and promising to invest another Rs 10,000 crore in close vicinity, Sethi appeared unperturbed.

He initially said that JNPT has its own port at Wadhwan off the Dahanu coast coming up which will be ten times the capacity of the existing port, and then added that a Dighi cannot be compared with either the existing JNPT port or with Wadhwan.

Sethi said there will definitely be more competition going ahead and added that the facility at Wadhwan will also compete with the existing JNPT terminals.



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