Asian Development Bank funds a Container terminal at JNPA
The Asian Development Bank (ADB) and
Nhava Sheva Freeport Terminal Private Limited (NSFTPL) have signed a loan
agreement for Rs 1066 Crores to upgrade the Jawaharlal Nehru Port Container
Terminal, Navi Mumbai, to enhance international trade in India through
efficient, transparent, and state-of-the-art logistics infrastructure.
NSFTPL is a
special purpose vehicle jointly owned by J M Baxi Ports and Logistics Limited
(JMBPL) and CMA Terminals.
The funds will be used to upgrade
existing berths and yards and install additional energy efficient equipment
such as electric quay cranes," it said.
ADB further said these upgrades will expand the terminal's container handling capacity
and attract vessels operating on important international shipping lanes.
"Global trade and supply chains are
vulnerable to shocks, and enhancing countries' capacity for trade is critical
to the region's recovery from COVID-19 and its ongoing prosperity," ADB
Vice-President for Private Sector Operations and Public-Private Partnerships
Ashok Lavasa said.
The
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.
