HUDCO and JNPA ink ₹5,000 crore MoU to boost port infrastructure
The purpose of this MoU is to explore collaboration in existing and upcoming infrastructure development.
The Housing and Urban Development Corporation (HUDCO) and the Jawaharlal Nehru Port Authority (JNPA) have signed an initial agreement to collaborate on port development projects valued at ₹5,000 crore.
The Memorandum of Understanding (MoU) was signed on October 24, by Sanjay Kulshrestha, Chairman and Managing Director of HUDCO, and Unmesh Sharad Wagh, Chairman of JNPA.
In a regulatory filing, HUDCO, a public sector undertaking, specialises in housing and infrastructure project finance, clarified that the agreement is, at present, non-binding.
"The purpose of this non-binding MoU is to establish and initiate cooperation for exploring collaboration in existing and upcoming infrastructure development and financing & refinancing of port infrastructure projects at JN port," HUDCO stated in the filing.
Jawaharlal Nehru Port, also known as Nhava Sheva port in Navi Mumbai, is the busiest container port in India, handling approximately half of the nation's total containerised cargo across its 2,500-hectare facility, which includes five privately operated container terminals.
