JM Baxi – CMA Terminals Consortium to Invest Rs. 872 Crore to Expand JNPCT
Consortium of JM Baxi Ports and Logistics Ltd. and Marseille-based CMA Terminals will be investing Rs. 872.16 crore for the expansion of Jawaharlal Nehru Port Container Terminal (JNPCT).
Earlier, the consortium had secured the contract to operate the container terminal at Jawaharlal Nehru Port for a period of 30 years. The concession agreement for JNPCT will be signed on 27th July 2022.
This expansion will be done in two phases. Phase – I shall see an investment of Rs. 591.99 crore, and will be completed within 18 months from the date of award of the concession agreement. Phase – II shall involve an investment of Rs. 280.17 crore. It will begin once JNPCT attains 1.02 million TEU (Twenty-foot Equivalent Units) cargo capacity, or in seven years, whichever falls earlier. This phase will also be completed in an 18-month time frame.
