Housing and Urban Development Corporation Limited (HUDCO) has signed an initial pact with the country’s largest container port, Jawaharlal Nehru Port Authority (JNPA), to collaborate for port infrastructure projects worth ₹5,000 crore.
In a regulatory filing on Friday, infrastructure giant HUDCO said it has signed a non-binding Memorandum of Understanding (MoU) with JNPA.
“The purpose of this non-binding MoU is to establish and initiate cooperation for exploring collaboration in existing and upcoming infrastructure development and financing and refinancing of port infrastructure projects at JN port for an estimated amount of ₹5,000 crore,” a statement by HUDCO said.
The MoU was signed by Sanjay Kulshrestha, CMD of HUDCO, and Unmesh Sharad Wagh, Chairman of JNPA.
HUDCO finances housing and urban infrastructure projects.
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Jawaharlal Nehru Port (JNPT) is India's largest container port, located in Navi Mumbai, Maharashtra. Also known as the Nhava Sheva port, it handles about half of India’s total containerized cargo and serves as a major hub for international trade. It’s therefore also the busiest container port in India, with a land area of 2,500 hectares.
Operates five container terminals through private operators, including the Bharat Mumbai Container Terminals (BMCT) and Gateway Terminals India (GTIPL).
Commissioned in 1989, it operates multiple container terminals and has a global network, connecting to over 200 ports worldwide.
The port authority is also developing a satellite port at Vadhvan and four dry ports to promote industrialization in the hinterland.
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