Mumbai, October 10, 2024: The Maharashtra Maritime Board (MMB) has awarded a Letter of Intent (LOI) to JSW Infrastructure for the development, operation, management, and maintenance of an all-weather, multipurpose port at Murbe village in Palghar District, Maharashtra. The project will be executed on a Public Private Partnership (PPP) basis under the Design, Built, Own, Operate, and Transfer (DBOOT) model. The LOI, granted following a competitive tender process under the Swiss challenge mechanism, marks an “in-principle” approval by the state government for this ambitious port project, making it a significant milestone for JSW Infrastructure’s expansion in the region.
The LOI, issued on October 3, 2024, is valid for a period of 24 months, subject to the fulfillment of terms and conditions outlined in the document. Upon successful compliance, the Maharashtra Maritime Board will enter into a Concession Agreement (CA) with JSW Infrastructure for a period of 70 years for the project’s development. The royalty payable under this agreement is structured on a per metric ton basis, with escalations planned for every five-year block period, as outlined in the Maharashtra Maritime Development Policy-2023 (MMDP 2023).
Strategic Location and Economic Potential
The proposed Murbe port is strategically positioned to be an all-weather, multi-cargo commercial port, serving as a significant maritime hub in the region. Located near major transportation arteries such as National Highway 8, the State Highway (Boisar Road), and critical rail corridors including the Delhi-Mumbai trunk rail route and the Dedicated Western Freight Corridor, the Murbe port is well-placed to become a major logistics center for trade and commerce.
The port’s hinterland is thriving with industrial and commercial activity, and the development is expected to cater to the increasing demands of anchor customer cargo and support EXIM (Export-Import) operations for the rapidly expanding industries in the region. The project is anticipated to stimulate substantial economic growth in the area, leading to the creation of numerous job opportunities and bolstering regional development.
A Key Component in JSW Infrastructure’s FY2030 Growth Strategy
The Murbe greenfield port project is in line with JSW Infrastructure’s long-term growth strategy to significantly increase its handling capacity from the current 170 million tonnes per annum (MTPA) to 400 MTPA by FY2030. This port will not only meet the needs of existing customers but also provide additional capacity to accommodate the growing volume of trade expected in the future.
JSW Infrastructure’s award of the LOI exemplifies its commitment to enhancing Maharashtra’s maritime infrastructure, ensuring robust logistics support, and promoting economic development in the state. Once completed, the port is set to transform the logistics landscape in the region, providing efficient solutions for the transportation of goods and driving Maharashtra’s vision of becoming a leading maritime and industrial hub in India.
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