The Maharashtra Maritime Board (MMB) said it will take an equity stake of at least 26 per cent in a new ₹65,545-crore port to be built by the Central government with Jawaharlal Nehru Port Trust (JNPT) as the lead partner, putting to rest doubts over the State government’s participation in the ambitious project.
On February 5, the Union Cabinet accorded ‘in-principle’ approval for the new port to be built by a special purpose vehicle (SPV) formed under the Companies Act, in which state-owned JNPT — India’s biggest container gateway — will hold an equity stake equal to or more than 50 per cent.
The Cabinet, though, was silent on MMB’s participation in the project despite a June 2015 memorandum of understanding (MoU) signed between JNPT and MMB to develop Vadhavan Port as a 74:26 joint venture between the two sides.
Denne historien er fra March 19, 2020-utgaven av The Hindu Business Line.
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Denne historien er fra March 19, 2020-utgaven av The Hindu Business Line.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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