Switzerland-based Terminal Investment Ltd (TIL) has proposed to invest an estimated ₹20,000 crore for the development of the Vadhvan port and the surrounding ecosystem in Maharashtra.

The Jawaharlal Nehru Port Authority (JNPA) signed a Memorandum of Understanding (MoU) with TIL for the construction of Vadhvan port on Monday, stated an official release.

As per the MoU TIL has proposed to invest in the port project. For the implementation of the project, a special purpose vehicle, Vadhvan Port Project Ltd (VPPL), has been formed by JNPA and Maharashtra Maritime Board (MMB) with a shareholding of 74 percent and 26 percent, respectively.

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Unmesh Sharad Wagh, Chairman, JNPA and CMD, VPPL, stated, “The MoU with Terminal Investment Limited Sàrl marks a significant step in our vision for the Vadhvan Port, which is poised to redefine port infrastructure in India.

This partnership not only reflects the confidence of global investors in India’s maritime sector but also ensures the integration of cutting-edge technology, sustainable practices, and world-class infrastructure. Together, we aim to create a port ecosystem that sets new benchmarks in efficiency and innovation.” MSC Mediterranean Shipping Company is the main owner of TIL which has a diverse portfolio of container terminals across the world.

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VPPL also recently launched the Vadhvan Port Skilling Program, which is designed for the youth of the Vadhvan region. MoUs have been signed between DG Shipping and JNPA to provide skill development training through selected Maritime Training Institutes (MTIs), the release added.