JNPA Sets Qualification Norms for Vadhvan Port Project Bids
PORTS & SHIPPING

JNPA Sets Qualification Norms for Vadhvan Port Project Bids

The Jawaharlal Nehru Port Authority (JNPA) has finalised qualification criteria for entities bidding on dredging, offshore reclamation, and shore protection works worth Rs 206.47 billion for the upcoming Vadhvan Port. The move follows the BJP-led alliance’s electoral victory in Maharashtra, accelerating the port's development. To qualify, bidders must demonstrate technical capability of at least Rs 151.13 billion, based on experience in two categories: Public-Private Partnership (PPP) projects in port and core sectors, and construction projects in these sectors over the last decade. Eligible port projects include terminals, jetties, dredging works, offshore reclamation, breakwaters, and other related infrastructure. Core sector projects span highways, airports, railways, industrial parks, water supply, and real estate, among others. Bidders must also meet financial requirements, including a minimum net worth of ?2,267.04 crore as of the previous financial year. In consortiums, members contributing at least 26% equity must maintain this share for six months post-commercial operation and meet individual net worth requirements of 7.5% of the project’s Phase-1 cost. Additionally, bidders need a minimum credit rating of A- or a banker’s assurance of credit facilities. The JNPA board approved the project on November 14, opting for a Hybrid Annuity Model (HAM) to execute the work in two phases. Phase 1 will reclaim 800 hectares over three years, with contractors receiving 60% of the contract value during this period. Phase 2 will reclaim an additional 400 hectares over two years. The remaining 40% of the contract value for both phases will be paid during a ten-year maintenance period, excluding maintenance dredging. The PPP HAM model, a first for Indian port projects, combines features of Engineering, Procurement, and Construction (EPC) with deferred payments, reducing JNPA’s borrowing requirements for the Rs 762.20 billion project. Vadhvan Port, developed by Vadhvan Port Project Ltd—a joint venture between JNPA (74%) and Maharashtra Maritime Board (26%)—is set to be India’s largest public port, capable of handling 298 million tonnes of cargo annually. The proposal awaits approval from the Public-Private Partnership Appraisal Committee before bidding begins. (ET)

The Jawaharlal Nehru Port Authority (JNPA) has finalised qualification criteria for entities bidding on dredging, offshore reclamation, and shore protection works worth Rs 206.47 billion for the upcoming Vadhvan Port. The move follows the BJP-led alliance’s electoral victory in Maharashtra, accelerating the port's development. To qualify, bidders must demonstrate technical capability of at least Rs 151.13 billion, based on experience in two categories: Public-Private Partnership (PPP) projects in port and core sectors, and construction projects in these sectors over the last decade. Eligible port projects include terminals, jetties, dredging works, offshore reclamation, breakwaters, and other related infrastructure. Core sector projects span highways, airports, railways, industrial parks, water supply, and real estate, among others. Bidders must also meet financial requirements, including a minimum net worth of ?2,267.04 crore as of the previous financial year. In consortiums, members contributing at least 26% equity must maintain this share for six months post-commercial operation and meet individual net worth requirements of 7.5% of the project’s Phase-1 cost. Additionally, bidders need a minimum credit rating of A- or a banker’s assurance of credit facilities. The JNPA board approved the project on November 14, opting for a Hybrid Annuity Model (HAM) to execute the work in two phases. Phase 1 will reclaim 800 hectares over three years, with contractors receiving 60% of the contract value during this period. Phase 2 will reclaim an additional 400 hectares over two years. The remaining 40% of the contract value for both phases will be paid during a ten-year maintenance period, excluding maintenance dredging. The PPP HAM model, a first for Indian port projects, combines features of Engineering, Procurement, and Construction (EPC) with deferred payments, reducing JNPA’s borrowing requirements for the Rs 762.20 billion project. Vadhvan Port, developed by Vadhvan Port Project Ltd—a joint venture between JNPA (74%) and Maharashtra Maritime Board (26%)—is set to be India’s largest public port, capable of handling 298 million tonnes of cargo annually. The proposal awaits approval from the Public-Private Partnership Appraisal Committee before bidding begins. (ET)

Next Story
Building Material

JK Cement emerges successful bidder for Mahan coal mine in Madhya Pradesh

This marks the company’s second commercial coal block win, following its acquisition of the West of Shahdol (South) coal block. "The company is committed to becoming self-reliant for its existing cement plants and upcoming projects," JKC stated. The surplus coal from the mine will be sold commercially. The vesting order was handed over to JK Cement during a ceremony at Shastri Bhawan, New Delhi, a critical milestone for commencing mining operations within the stipulated timeline...

Next Story
Building Material

Prism Johnson's cement division goes live with Ramco ERP Suite

Prism Johnson has successfully gone live with the Ramco ERP Suite for its Cement Division. This milestone marks a significant step in Prism Johnson's digital transformation journey, leveraging Ramco Systems' advanced enterprise solutions and process control systems to streamline business processes, manufacturing operations and drive efficiency. The implementation includes cutting-edge modules for Maintenance, Sales, Distribution, Finance, Procurement, Manufacturing, Quality, and HR Management (HRM). These solutions enable Prism Johnson to achieve seamless integration across its business and wo..

Next Story
Infrastructure Urban

Indian shadow bank Shriram Finance gets record $1.28 billion loan

Shriram Finance Ltd. is reported to have borrowed $1.28 billion in a multi-currency social loan, marking the largest offshore facility ever undertaken by an Indian shadow lender. According to a press release issued by Shriram, the deal is divided across the dollar, euro, and dirham. Sources familiar with the transaction, who wished to remain anonymous, indicated that the tenors in the multi-tranche deal range from three to five years. This loan adds to the surge of offshore debt sales by Indian shadow lenders this year, a trend prompted by the Reserve Bank of India's tightening of rules in Nov..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000