ADB, NSFTPL sign Rs 1000 crore loan agreement to upgrade India's Jawaharlal Nehru Port Container Terminal

The Asian Development Bank (ADB) and Nhava Sheva Freeport Terminal Private Limited (NSFTPL) have signed a loan agreement of $131 million or Rs 1000 crore to upgrade the Jawaharlal Nehru Port Container Terminal located in Navi Mumbai, Maharashtra, India.

The loan will be used to improve the terminal's infrastructure and increase its container handling capacity.

The financing package includes $61.4 million from ADB's ordinary capital resources and $69.6 million from the Leading Asia's Private Infrastructure Fund (LEAP) administered by ADB.

The funds will be utilized to upgrade the existing berths and yards, and to install additional energy-efficient equipment such as electric quay cranes. These upgrades will attract vessels operating on important international shipping lanes, and help to make international trade more efficient, transparent and sustainable.

NSFTPL is a special purpose vehicle jointly owned by J M Baxi Ports and Logistics Limited (JMBPL) and CMA Terminals. JMBPL is a part of J M Baxi Group, a 106-year-old marine services, ports, logistics and technology conglomerate offering a wide range of logistics services including port facilities such as container and multi-cargo port terminals, container freight stations and inland container depots, niche logistics services for project and bulk cargo, offshore installations and ship agency services. CMA Terminals was established in 2012, and is engaged in the development, construction, acquisition, and operations of container terminals. It is wholly owned by CMA Terminals Holding, a subsidiary of the CMA CGM Group, a global player in sea, land, air, and logistics solutions.

LEAP is an ADB-managed fund capitalised with a $1.5 billion commitment by the Japan International Cooperation Agency. Established in 2016, LEAP focuses on delivering high-quality and sustainable private sector infrastructure projects that reduce carbon emissions, improve energy efficiency, and offer accessible and affordable health care, education, and communication services to ADB’s developing members.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.