Mumbai-based Gandhar Oil Refinery (India) Ltd announced via a stock exchange filing that it has entered into a non-binding Memorandum of Understanding (MoU) with the Jawaharlal Nehru Port Authority (JNPA) on April 21, 2025, to participate in the development of the proposed greenfield Vadhvan Port in Palghar, Maharashtra.
The Vadhvan Port, envisioned as a 100% green port, is being designed with modern, high-capacity terminals to handle containers, bulk and liquid cargo, as well as general cargo. Once operational, it aims to rank among the top 10 container ports globally.
Touted as India’s largest port development project, the Vadhvan initiative involves an investment of over ₹76,000 crore. It is being jointly developed by JNPA and the Maharashtra Maritime Board (MMB), holding 74% and 26% equity, respectively. The first phase of the port is expected to be completed by 2029.
In its statement, Gandhar Oil said it intends to contribute to the project through the development of a terminal for handling various cargo types, including containers, bulk, and liquid cargo. The company also plans to create infrastructure for marine services, enhance intermodal connectivity, and support the sustainability of the port ecosystem through digital solutions, robust IT infrastructure, and skill development initiatives.
Gandhar Oil estimates its investment in the terminal development at approximately ₹1,000 crore, with the project expected to commence in 2030. The company added that, upon successful bid acceptance, a binding MoU or definitive agreement will be executed at a later stage.