Vadhvan Port Awards EPC Contract to ITD Cementation

Mumbai, Dec 31 (PTI) Vadhvan Port Pvt Ltd on Tuesday said it has awarded the Engineering, Procurement, and Construction (EPC) contract to ITD Cementation India for the construction of near-shore reclamation and shore protection for the upcoming greenfield Vadhvan Port in the state.

The company had quoted a price of Rs 1,648 crore (excluding GST) during the competitive bidding process, which is 6.892 per cent lower than the estimated cost of Rs 1,770 crore (excluding GST). As a result, the bid was considered both reasonable and workable, Vadhvan Port Pvt Ltd (VPPL) said.

The awarded package includes the development of about 200 hectares of land in the near shore area, a critical component for initiating other key packages of the port project, such as loading points and essential infrastructure, it said.

VPPL is developing the facility near Dahanu in Maharashtra's Palghar district, with an investment of Rs 76,200 crore.

VPPL is a special purpose vehicle, wherein Jawaharlal Nehru Port Authority (JNPA) holds a 74 per cent stake and Maharashtra Maritime Board owns the remaining 26 per cent.

This contract represents an important step towards establishing the core infrastructure for Vadhvan Port.

The near-shore reclamation will lay the groundwork for subsequent phases of the project, ensuring we move forward with a strong and sustainable base, said Unmesh Sharad Wagh, Chairman VVPL.

"As we step into 2025, we look forward to accelerating the work and making steady progress toward our goals," he added.

The tender for the near shore reclamation and shore protection package was floated in October with December 19 as the last date for submitting the bid.

Two other firms-- Man Infra Construction Ltd in JV with TIPL and Navayuga Engineering Company-- apart from ITD Cementation submitted online bids by the due date, VPPL said.

All three agencies were found to meet the qualification criteria.

Subsequently, the price bids were opened on December 30, and the contract was awarded to ITD Cementation India Ltd, it said.

Last week, the joint venture company had announced that Switzerland-based Terminal Investment Ltd Sarl (TIL) has proposed to invest an estimated Rs 20,000 crore for the development of the Vadhvan Port and its surrounding ecosystem.