Jawaharlal Nehru Port Trust (JNPT) has begun the financing process for its INR32bn (US$473m) project to enhance the port’s surrounding roads to meet traffic demand and mitigate long-running congestion issues.
JNPT has identified the widening of existing national highways, NH-4B and NH-348A (old SH¬54 and Amra Marg), which help to connect India’s largest port to Navi Mumbai.
The trust has authorised the State Bank of India (SBI) to issue a request for proposals to qualified bidders for lending external commercial borrowings to JNPT.
As per the preliminary assessment, an amount of INR24bn (US$361m) is proposed to be raised through commercial borrowings.
The port also announced that it handled an annual container throughput record of 4.48m teu in 2015, constituting a 0.1% increase over the previous year’s results.
The JN Port-owned terminal, Jawaharlal Nehru Port Container Terminal (JNPCT) had its most productive year, handling 1.37m teu, up from 1.35m teu.