JNPA and PSA Mumbai ink supplementary agreement for extension of BMCT concession period

Jawaharlal Nehru Port Authority (JNPA) and PSA Mumbai (a subsidiary of PSA International) have signed a supplementary agreement for the extension of the Bharat Mumbai Container Terminal (BMCT) concession period.

The agreement, finalised through conciliation, was signed in the presence of Mr Unmesh Sharad Wagh, IRS, Chairperson, JNPA & CMD, VPPL, and Mr Vincent Ng, Regional CEO – Euromed and MESA, PSA International, along with officials from PSA India, PSA Mumbai and JNPA. With this agreement in place, the way forward for the project is all clear for a journey of relentless progress, emphasised a JNPA communique.

 

 

This landmark step not only strengthens collaboration with a global partner but also sends a strong message about the success of Public-Private Partnerships (PPP) in India’s port sector. With the largest FDI of USD 1.3 billion under the PPP model — also the highest investment from Singapore to date in India — the agreement boosts investor confidence, enhances the investment climate and ensures unhindered progress of the project.

It further deepens India-Singapore bilateral relations, underscoring shared priorities in trade, connectivity and stability in the Indo-Pacific, the communique added.

As reported earlier, Prime Minister Mr Narendra Modi and Mr Lawrence Wong, Prime Minister of Singapore, had last week virtually inaugurated BMCT Phase-II, at JN Port, creating India’s largest container terminal by doubling its annual handling capacity to 4.8 million TEUs. Besides, JN Port became India’s largest container port with a capacity of over 10 million TEUs. 

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