Latest news with #Wagh
Economic Times
a day ago
- Business
- Economic Times
India's largest port in the making to raise Rs 30,000 crore debt
AP This is a representative image. 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%. 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. 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.
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Business Standard
2 days ago
- Business
- Business Standard
India's largest port builder to raise ₹30,000 cr for Vadhvan project
The firm building what will become the largest port in India plans to raise as much as ₹30,000 crore ($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 per cent stake. The Maharashtra Maritime Board owns the remaining 26 per cent. 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 ₹22,000 crore, 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. JNPA and MMB will jointly infuse about ₹13,000 crore 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.
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.
Business Standard
13-06-2025
- Business
- Business Standard
Global Maritime Diplomacy, Logistics Leadership & VVIP Networking In Mumbai
PNN Mumbai (Maharashtra) [India], June 13: The upcoming 9th Edition of India Maritime Awards 2025, scheduled for Friday, 20th June 2025, at Hotel Sahara Star, Mumbai, is set to be one of the most influential maritime logistics events in India. More than just an awards ceremony, #IMA2025 is a convergence of global maritime diplomacy, shipping leadership, and logistics innovation bringing together an august gathering of over 600 leaders, dignitaries, and professionals from the global maritime and logistics ecosystem. This year's event launches with a compelling VVIP Networking and Knowledge Session featuring Global Ambassadors and key Indian dignitaries, providing a rare platform for strategic exchange under the impactful theme: "Global Synergy: Where Trade Meets Transformation." Link to Register - A LEGACY OF EXCELLENCE BY DAILY SHIPPING TIMES Organised by Daily Shipping Times (DST) -- proudly serving the trade for 65 remarkable years -- India Maritime Awards is a platform of purpose. The 2025 edition opens unique opportunities for Indian Industry Leaders to directly engage with visionary diplomats, shape policy, and drive India's maritime and logistics transformation. This dialogue-rich initiative continues DST's mission of building a future-ready logistics ecosystem through global perspective and purposeful interactions. ESTEEMED CHIEF GUEST AND GUEST OF HONOUR Chief Guest: Shri Unmesh Sharad Wagh, IRS, Chairman JNPA and CMD VPPL, will grace IMA 2025. A visionary maritime leader, Shri Wagh has steered JNPA past 10 million TEUs in capacity and is championing the Vadhvan Port Project, poised to become Asia's largest deep-draft green port. Guest of Honour: Shri Haji Arfat Shaikh, BJP Leader and President of BJP Transport Cell & All India Suffi Board, adds significant gravitas with his experience as Ex-Chairman, Maharashtra State Minorities Commission (Cabinet Minister Status). His presence reinforces the event's commitment to policy dialogue and trade facilitation. A CONSTELLATION OF GLOBAL DIPLOMATS In line with the global focus on this year's edition, the VVIP Knowledge Session will welcome an elite line up of International Ambassadors: H.E. Mr. Isse Abdillahi Assoweh, Ambassador Extraordinary & Plenipotentiary of the Republic of Djibouti to India, will offer insights on infrastructure-led trade and digital logistics transformation. H.E. Mr. Fesseha Shawel Gebre, Ambassador of the Federal Democratic Republic of Ethiopia to India, will speak on Ethiopia's maritime infrastructure and its role in the Indo-African trade axis. H.E. Mr. Mustapha Jawara, Ambassador of the Republic of The Gambia to India, will highlight digital logistics and regional collaboration with India. H.E. Dr. Abdullahi Mohammed Odowa, Ambassador of the Federal Republic of Somalia, will address maritime security and India-Somalia cooperation along the Red Sea. H.E. Mr. Alonso Correa Miguel, Ambassador of the Republic of Panama to India, will share insights on strengthening Indo-Panama maritime cooperation and advancing trade-led innovation. BRIDGING CONTINENTS: ESTEEMED MODERATOR The session will be moderated by Mr. Vishal P. Mehta, Honorary Consul of Djibouti in India and CEO of Pankaj Transport, Rushabh Sealink and Logistic Pvt. Ltd. Known for his strategic insight and cross-border experience, Mr. Mehta ensures a dynamic and inclusive dialogue linking diplomatic vision with actionable trade strategies. The Exclusive VVIP Gold Invite grants attendees access to a premium set of experiences including VVIP networking with international ambassadors and key Indian dignitaries, a VVIP knowledge session with these prominent figures, high-tea, the awards ceremony with general networking, and beverages and dinner. The General Blue Invite, on the other hand, includes access to high-tea, the awards ceremony with general networking, and beverages and dinner. However, it does not grant entry to the exclusive VVIP networking or the VVIP knowledge session with international ambassadors and Indian dignitaries. WHAT TO EXPECT FROM INDIA MARITIME AWARDS 2025 India Maritime Awards 2025 is not just a night of accolades. It is a commitment to driving innovation, recognizing maritime excellence, and fostering cross-border trade synergy. With an exclusive VVIP session, powerful insights, and diplomatic participation, #IMA2025 sets the stage for the next era of global logistics leadership. Date: Friday, 20th June 2025 Venue: Sapphire Ballroom, Hotel Sahara Star, Mumbai JOIN THE MOVEMENT: WHERE LEGACY MEETS TRANSFORMATION #IMA2025 is where India's logistics community, shipping pioneers, and policy influencers unite to shape a resilient and interconnected trade future. Be part of a platform that's leading with legacy, driving global collaboration, and championing the maritime economy of tomorrow. India Maritime Awards 2025: Where transformation meets tradition, and global voices inspire India's next wave of trade leadership. Register now - Follow @DailyShippingTimes on LinkedIn, Twitter, and Instagram using #IMA2025, #IndiaMaritimeAwards, and #DSTEvents for live updates and highlights.
Time of India
04-06-2025
- Health
- Time of India
Former Sena corporator booked for drunk driving and assaulting doctor in Thane
Thane: The Rabodi police have booked a former Shiv Sena corporator for allegedly driving under the influence of alcohol, dangerously ramming his car into another vehicle, and assaulting a doctor in a road rage incident near Castle Mill area on Tuesday evening. According to the complaint lodged by a 31-year-old doctor residing in Thane and working at a Bhiwandi civil hospital as an orthopaedic surgeon, the incident occurred around 6:50 pm. The doctor and his sister were returning home in their car after picking up a food parcel from Vikas Complex. As they approached the Meena Tai Thackeray Chowk, another car driven by Mahesh Wagh allegedly recklessly in the wrong lane collided with the doctor's vehicle. The police said that the doctor stated he slowed down his car to avoid the impact, but Wagh's car still struck the front-right side of his car. Even as he attempted to step out, the accused allegedly scraped the vehicle further while trying to drive off. When the doctor signalled the driver to stop, the man reportedly accelerated and hit the doctor's foot. The police, quoting the FIR, said that the doctor's sister also attempted to stop the accused by standing in front of Wagh's car, but he allegedly continued to drive forward, endangering her as well. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo The doctor eventually managed to pull over and return to confront the driver, only to be verbally abused and slapped. Eyewitnesses gathered at the scene as the altercation escalated. The police were called, and the accused was taken to Rabodi police station. Officers noted that the man, identified as Wagh, was under the influence of alcohol and was shouting loudly while he was at the Rabodi police station. He was booked for rash driving, drunk driving, causing hurt, and assault. The police said that the legal process and probe are underway in the case.
