Vadhvan Port: India's Next Megaport Seeks $3.5 Billion Debt

The developer of what is set to become India’s largest port — the Vadhvan Port Project — is planning to raise up to ₹30,000 crore (USD 3.5 billion) in debt, presenting a major investment opportunity in one of Prime Minister Narendra Modi’s flagship infrastructure initiatives.

Located a few hours north of Mumbai, the project is seeking long-term debt with tenors ranging from 15 to 20 years and is evaluating both domestic and international financing options. “We have initiated the debt-raising process, which will be carried out in two phases,” said the Chairman of the Jawaharlal Nehru Port Authority (JNPA), which holds a 74% stake in the project. The remaining 26% is held by the Maharashtra Maritime Board.

With a total estimated cost of ₹75,000 crore (USD 9 billion), the Vadhvan Port is expected to be operational by the end of the decade. Once completed, it will have the capacity to handle 23 million containers annually, placing it among the top 10 ports globally by capacity.

IDBI Capital has been appointed as the advisor for the first round of fundraising, which aims to secure at least ₹22,000 crore in debt. The JNPA and MMB will contribute ₹13,000 crore in equity to support the project.

The port will also play a pivotal role in India’s Maritime Development Fund and is a critical component of the India-Middle East-Europe Economic Corridor, positioning India as a key player in global trade connectivity.

News by Rahul Yelligetti.