ADB approves ₹1,066-cr for JNPT terminal upgrades

The Asian Development Bank (ADB) and Nhava Sheva Freeport Terminal Private Limited (NSFTPL) have signed a loan agreement worth USD 131 million (equivalent to ₹1,066 crore) to upgrade the Jawaharlal Nehru Port Container Terminal in Navi Mumbai. The project aims to improve international trade in India by providing efficient and state-of-the-art logistics infrastructure. NSFTPL is a joint venture between J M Baxi Ports and Logistics Limited and CMA Terminals. The loan package includes USD 61.4 million from ADB's ordinary capital resources and USD 69.6 million from the Leading Asia's Private Infrastructure Fund (LEAP), which is administered by ADB. The funds will be used to upgrade existing berths, yards and install energy-efficient equipment such as electric quay cranes. The upgrades will increase the terminal's container handling capacity and attract vessels operating on important international shipping lanes.

ADB Vice-President for Private Sector Operations and Public-Private Partnerships, Ashok Lavasa said, "Enhancing countries' capacity for trade is critical to the region's recovery from COVID-19 and its ongoing prosperity" and that the long-term financial support from ADB can boost economic competitiveness in India by developing world-class mega ports and boosting the efficiency of containerized cargo terminal operations.