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Largest Port in the Making to Raise $3.5 Billion Debt
Hindustan Times West UP
|June 20, 2025
The firm building what will become the largest port in India plans to raise as much as ₹30,000 crore ($3.5 billion) of debt, giving lenders an opportunity to invest in one of the cornerstones of Prime Minister Narendra Modi's infrastructure overhaul.
Owners of the Vadhvan Port Project Ltd., located a few hours north of Mumbai, are looking to raise debt with tenors in the range of 15 to 20 years. They're considering onshore and offshore markets to raise the funds, according to a top official.
"We have started the process of raising debt which will happen in two phases," said Unmesh Sharad Wagh, chairman at Jawaharlal Nehru Port Authority, or JNPA, which holds a 74% stake. The Maharashtra Maritime Board owns the remaining 26%.
This story is from the June 20, 2025 edition of Hindustan Times West UP.
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