NMPA seals Rs 8,347-cr deals at Global Maritime Summit
The New Mangalore Port Authority (NMPA) has signed seven Memorandums of Understanding (MoUs) worth Rs. 8,347 crore during the Global Maritime India Summit 2023, concluded in Mumbai. These deals will pave the way for further development and expansion of the port and its associated infrastructure. The NMPA inked two MoUs with Mangalore Refinery and Petrochemicals (MRPL) worth Rs. 5,000 crore for port-based infrastructure as well as an investment of Rs. 1,500 crore for the desalination plant (augmentation and new capacities). Likewise, four MoUs aggregating Rs. 1,800 crore were also exchanged with various stakeholders, including Hindustan Petroleum Corporation (HPCL), Indian Oil Corporation (IOCL), Karnataka Maritime Board (KMB), and Sealord Containers (SCL) as part of the Port-led Industrialisation initiative and one MoU has been signed with Public Health Preparedness Clinic (PHPC) for the establishment and installation of tank farms and storage infrastructure, with an investment of Rs. 47 crore.