Latest news with #JawaharlalNehruPortAuthority
Time of India
2 days ago
- Business
- Time of India
India's largest port in the making to raise Rs 30,000 crore debt
The firm building what will become the largest port in India plans to raise as much as 300 billion rupees ($3.5 billion) of debt, giving lenders an opportunity to invest in one of the cornerstones of Prime Minister Narendra Modi's infrastructure overhaul. Owners of the Vadhvan Port Project Ltd., located a few hours north of Mumbai, are looking to raise debt with tenors in the range of 15 to 20 years. They're considering onshore and offshore markets to raise the funds, according to a top official. 'We have started the process of raising debt which will happen in two phases,' said Unmesh Sharad Wagh, chairman at Jawaharlal Nehru Port Authority , or JNPA, which holds a 74% stake. The Maharashtra Maritime Board owns the remaining 26%. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Audiologists Furious About New £80 Device That Makes Hearing Crystal Clear Again Top Trending News Today Learn More Undo The $9 billion port project is a major undertaking for Prime Minister Narendra Modi, who laid the port's foundation stone last year. Upon completion, which is expected toward the end of the decade, Vadhvan will have the capacity to handle some 23 million container units, making it one of the 10 largest ports in the world, according to its backers. IDBI Capital was appointed as advisor to help lineup long term lenders for the first round of funding, with a target of at least 220 billion rupees, Wagh said. The funds will be disbursed over the next five years, and the request for proposals from lenders will be floated during the October to December quarter. Live Events JNPA and MMB will jointly infuse about 130 billion rupees worth of equity into the project, said Wagh, who is also chairman and managing director of Vadhvan Port Project. The firm is in talks with multilateral agencies, and is working on reclaiming 1,200 hectares of land, he added. Bolstering the country's maritime infrastructure is a priority for Modi's administration. Through the country's annual budget in February, the government proposed a Maritime Development Fund to support the sector through financial assistance via equity or debt securities. Some of the largest container ships have been forced to skip India because none of its existing ports are deep enough to receive them. Vadhvan's natural depth of 20 meters would allow some of the largest ships to dock. It would also serve as a starting point for the so-called India-Middle East-Europe Corridor , a planned economic link aimed at developing new trade routes between the regions.
The Hindu
2 days ago
- Politics
- The Hindu
Residents of Sheva Koliwada move Bombay HC over four-decade wait for rehabilitation
Residents of Sheva Koliwada in Uran taluka of Raigad district, Maharashtra, who have spent the past 40 years in a transit camp, have approached the Bombay High Court against multiple authorities — including the Jawaharlal Nehru Port Authority (JNPA), the Ministry of Ports, Shipping and Waterways, the Divisional Commissioner of Konkan Division, the Raigad District Collector, and CIDCO — alleging false assurances regarding rehabilitation. Filed under Articles 226 and 227 of the Constitution, the petition seeks judicial directions against JNPA for what the petitioners describe as a gross failure to fulfil statutory obligations under the Maharashtra Project Affected Persons Rehabilitation Act, 1976. The petitioners — the Maharashtra Small Scale Traditional Fish Workers Union, represented by its president Nandkumar W. Pawar and secretary Ramesh B. Koli — are seeking appropriate orders for permanent and adequate rehabilitation of 256 families displaced due to land acquisition for the Jawaharlal Nehru Port Project (JNPT). The petition urges time-bound implementation of a rehabilitation plan approved on January 24, which includes the allocation of 10.16 hectares of land, interim relief, compensation for prolonged displacement, and the appointment of a court-monitored committee to oversee the implementation process. The prolonged struggle has drawn media and administrative attention in recent years. A report titled '40 years in a transit camp' published in The Hindu on November 16, 2024, and a follow-up story on November 20, 2024, highlighted electoral boycotts by the affected community. Following the coverage, officials from the Election Commission of India and the Raigad District Collector visited the area, promising to convey residents' demands to higher authorities. On December 19, 2024, a senior Union government official gave a verbal assurance that permanent housing would soon be provided. However, on April 14, more than 400 residents protested outside the tehsildar's office, displaying a photograph of Dr. B.R. Ambedkar and a copy of the Constitution, in a symbolic plea for justice. The protest was held to draw attention to the community's displacement and the delay in rehabilitation by the State and Central governments. Also Read | Party workers tried to force us to vote, Sheva Koliwada transit camp residents say The petition, filed through advocate Siddharth Sonaji Ingle, also seeks ₹50 lakh compensation for each family, citing 'undue hardship, delay, and mental anguish' caused by the non-implementation of rehabilitation measures despite multiple government assurances over four decades. The residents have also demanded immediate upgrades to existing transit camp facilities, including provision of safe drinking water, sanitation, drainage, reliable electricity, structural safety, and other essential services for the project-affected families. Mr. Ramesh Koli, 65, said, 'We have had several meetings with all kinds of government officials all these years, from CMs, to Guardian Ministers, to different Union ministers... We staged protests, filed RTIs, took the matter to Lokayukta, we have been made to run from pillar to post... governments changed in this State and country, but we have remained in the same transit camp, waiting for our independence, hoping some day we will get our lost homes, our village that the country took away from us in the name of development and forgot about the people behind the mega project.' He further stated that affected families were given assurances of employment and local business opportunities during the displacement process. 'But till date no one from affected fisherfolk families received any employment or any business to sustain their families,' he said. 'We are aboriginal, indigenous community of this region who have lost everything under the guise of development. Traditional fishing practices have dwindled due to fishing zones being allotted for various projects and heavy industrial pollution. We are left with no future for our young generation despite the fact that several coastal projects are running their business on our traditional fishing land. Is this democracy or dictatorship?' Mr. Koli added.
Time of India
26-05-2025
- Business
- Time of India
Jawaharlal Nehru Port Authority: JN Port Authority Targets Stock Market Listing After Surpassing 10 Million TEUs Capacity, ET Infra
Advt Advt By , ETInfra Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Get updates on your preferred social platform Follow us for the latest news, insider access to events and more. State-owned Jawaharlal Nehru Port Authority (JNPA) has come on the radar of the government as a potential entity to be listed on the stock exchange after becoming the first Indian port to cross 10 million twenty-foot equivalent units (TEUs) capacity mark, according to and when JNPA is taken public, it will become the first major port (a term used to describe state-owned ports) among the dozen owned by the Union government, to be strong fundamentals could make it an attractive proposition for investors, multiple sources port located at Nhava Sheva near Mumbai handled a record 7.301 million TEUs in fiscal 2025, the most since the port started operations 36 years ago, clocking a growth of 13.55 per cent over the previous year. It handles more than half of the container cargo among major ports.A TEU is the standard size of a container and a common measure of capacity in the container overall cargo (both container and non-container) handled at the port located near Mumbai rose 7.5 per cent to 92.28 million tonnes (mt) from 85.82 mt a year the government decides to list JNPA, it will join a small group of port operators whose shares are listed on the them is Adani Ports and Special Economic Zone Ltd, India's biggest private port operator and a part of the diversified Adani Group. JSW Infrastructure Ltd, the nation's second biggest port operator, is also listed. Both APSEZ and JSW Infrastructure run a network of ports on the western and eastern APSEZ's flagship port in Gujarat, is India's biggest commercial and container port by volumes handled. Gujarat Pipavav Port Ltd, 43.01 per cent owned by A P M Terminals Management B V, the port operating unit of Denmark's integrated transport giant A P Moller-Maersk A/S, is the only standalone port to be listed in India. Gujarat Pipavav Port runs a private port at Pipavav in 12 Major Port Authorities and the Airport Authority of India have been kept outside the purview of the Public Sector Enterprise (PSE) policy unveiled by the government in 2021 for strategic disinvestment (read privatisation).The Public Sector Enterprise policy for Aatmanirbhar Bharat, which classifies public sector commercial enterprises as strategic and non-strategic sectors, would be limited to central public sector enterprises, public sector banks and public sector insurance 2021, the government carried out a structural reform of major ports by converting them from 'trusts' into 'authorities' to give them more autonomy and help compete with non-major or private ports. The move was fashioned on the model followed by Singapore where the erstwhile Port of Singapore Authority was converted into a corporate entity called PSA International Pte Ltd after separating the regulatory functions which was vested with the Maritime and Port Authority of government had initially thought of corporatising the major ports that were run as 'trusts' but had to back off in the face of strong opposition from the workers JNPA would help the government earn dividends, which is not the case now.
Time of India
14-05-2025
- Business
- Time of India
Ghodbunder Rd flyover to cut Mum-Thane drive by 25 mins
Thane: Travel time between Mumbai and Thane via Ghodbunder highway is likely to reduce by 15-25 minutes as a four-lane flyover was opened on Wednesday at Bhayenderpada junction in Thane. The flyover will also ease commute between Mumbai's northern suburbs and Navi Mumbai as well as Nashik, besides between Thane and the project a landmark for regional infrastructure, deputy CM and MMRDA chairman Eknath Shinde , who inaugurated the flyover on Wednesday in the presence of transport minister and MLA Pratap Sarnaik, said, "This three-level integrated traffic network—comprising the ground-level highway, the flyover above it, and the upcoming Metro line 4 on top—is the first such model in Thane region. Once Metro services commence, commuters can easily access the Metro stations from this stretch." He said the project will also speed up traffic flow through Thane, Bhiwandi, Navi Mumbai, Jawaharlal Nehru Port Authority, Borivli, Vasai-Virar and the flyover's inauguration, the Thane city and outbound traffic will be segregated, allowing the former to use the slip road and underpass, while outbound vehicles can take the elevated corridor, bypassing the signal. This will not just reduce congestion and cut fuel use but will also greatly improve travel efficiency."The flyover will not only increase traffic speed but also stimulate economic and industrial movement for Mumbai metropolitan region (MMR)," said Sanjay Mukherjee, MMRDA announced upcoming plans to boost interconnectivity across MMR. Metros 4 and 4A, connecting Wadala-Kasarvadavli-Gaimukh, will soon be linked with the Dahisar Metro line. He said land acquisition for this stretch will begin soon, following consultation with CM Devendra Fadnavis.
India.com
13-05-2025
- Business
- India.com
The stock of the company started the session in green at Rs 159.95 against the previous close of Rs 159.15.
Stock market- File image- For Representational purpose Stock market update: BSE Smallcap company Man Infraconstruction has informed exchanges that its board of directors will meet on May 20, 2025, to consider and approve the payment of the first interim dividend for FY 2025-26, along with the financial results for the quarter and year ended March 31, 2025. The board will also consider the financial results for the quarter and year ended March 31, 2025. Share Price The stock of the company started the session in green at Rs 159.95 against the previous close of Rs 159.15. The scrip gained further to touch an intraday high of Rs 165 during the session. The intraday low of the stock was Rs 157.30. The 52-week high of the stock is Rs 262.50 and the 52-week low is Rs 135.05. The market cap of the civil construction is Rs 5,464.22 crore. Q3 Results The company posted an 88 per cent rise in its standalone net profit at Rs 39.14 crore for the December quarter, on reduced expenses. In the same quarter a year ago, it had posted Rs 20.76 crore profit, the company said in an exchange filing. Total income fell to Rs 116.65 crore from Rs 124.22 crore in the October-December period a year ago. Expenses slipped to Rs 68.53 crore from Rs 95.77 crore. Earlier Jawaharlal Nehru Port Authority issued the Letter of Award (LoA) to Trident Agrocom Exports and Man Infraconstruction consortium for the development of a Rs 284-crore agro facility at its port. Once operational, the export-import-cum-domestic agricultural commodity-based processing and storage facility coming up on a 27-acre land parcel within the port complex, is expected to handle about 1.2 million tonnes of cargo annually. EPC firm Man Infraconstruction is into verticals like ports, infrastructure, commercial projects, institutions, IT projects and futuristic lifestyle houses. (With PTI inputs)
