UAE’s NMDC Group to invest ₹21,000 crore in Maharashtra’s Vadhvan Port Project

The UAE-based NMDC Group PJSC, formerly known as the National Marine Dredging Company PJSC, has signed a memorandum of understanding (MoU) with the Jawaharlal Nehru Port Authority (JNPA) to invest ₹21,000 crore in the Vadhvan Port Project Ltd. (VPPL).

Located in Maharashtra’s Palghar district, the Vadhvan Port Project is being developed as a major deep-draft port to enhance India’s maritime infrastructure. Under the MoU, NMDC Group PJSC will invest in dredging, land reclamation, and shore protection to develop offshore land along the Vadhvan coast.

“This collaboration brings global expertise to one of India’s most significant port projects, ensuring its strategic and sustainable development. With progress ahead of schedule, we are committed to accelerating infrastructure development and enhancing India’s port capabilities to meet future trade demands,” the statement from JNPA said.

VPPL, the special-purpose vehicle (SPV) executing the project, is a joint venture between JNPA and the Maharashtra Maritime Board (MMB), with JNPA holding a 74% stake and MMB the remaining 26%. The ₹76,220 crore project has been approved by the central government, with Phase I expected to be operational by 2029. The project is anticipated to create approximately 12 lakh jobs.

The investment will cover land acquisition, core infrastructure, and terminal development under a public-private partnership (PPP) model. In December 2024, Switzerland-based Terminal Investment Ltd Sàrl (TIL) signed an MoU to invest ₹20,000 crore in the project. Around the same time, VPPL awarded a ₹1,648 crore EPC (Engineering, Procurement, and Construction) contract to ITD Cementation India Ltd. for developing 200 hectares of near-shore land at the port.

With these investments, the Vadhvan Port Project is positioned to play a crucial role in expanding India’s maritime trade and port capacity.