JSW Infrastructure Limited (JSW Infra) has received a Letter of Intent (LoI) from Maharashtra Maritime Board (MMB) for the development, operation, management, and maintenance of an all-weather, multipurpose port in Murbe village of Palghar district in Maharashtra.
According to the information released by the public relations department of the chief minister’s secretariat, the estimated cost of the project is about ₹4,259 crore, and it is estimated to create 1,500 employment opportunities.
The LOI is valid for 24 months, which is subject to fulfilment of the terms and conditions stipulated therein, and on meeting the terms and conditions as stipulated in the LOI, MMB will enter into a concession agreement (CA) for the project, which will be valid for 70 years.
On September 30, the Maharashtra government in a cabinet meeting approved JSW Infra as the developer for the project.
A detailed project report (DPR) will be prepared after an analysis of all the technicalities regarding the project and rehabilitation of the fishermen’s community through Central Water and Power Research Station (CWPRS) and Central Marine Fisheries Research Institute (CMFRI).
The project is based on a public-private partnership (PPP) with a design, build, own, operate, and transfer (DBOOT) model. Once built, the port will handle captive, bulk, and dry bulk cargo.
Further, according to the company’s filing, the royalty payable for the project is based on per metric tonne, which will be escalated in the block period of five years.
The proposed port is located near major highways such as the national highway 8, the state highway (Boisar Road), and rail corridors such as the Delhi-Mumbai trunk rail route and the dedicated Western Freight Corridor.
