In a major booster to the country's port sector, the Jawaharlal Nehru Port Trust (JNPT) and Maharashtra Maritime Board (MMB) have agreed to build a new port jointly at Dahanu on the outskirts of Wadhwan in Maharashtra. The newly announced port project, which is being built on public private partnership (PPP) module, entailed an investment worth Rs. 6,000cr.
In this connection, both the players have recently signed a memorandum of understanding (MoU) for the project ensuring the smooth completion of the mega project, said official sources claiming that the port will be established as a corporate port under the Companies Act, 2013 on the lines of Kamarajar Port at Ennore. In the project in question, the JNPT will have an equity share not exceeding 74% and the Maharashtra government will take part as a partner with an equity share of 26% in the new port company.