• Follow Us

  • twitter button

    Twitter

  • linkedin button

    LinkedIn

  • facebook button

    Facebook

  • Instagram button

    Instagram

Asia Business Outlook
  • Education
  • Marketing
  • Manufacturing
  • Finance
  • HR & Legal
  • Services
  • Asia Startups
  • Special
  • Home
  • News
  • Treatise
  • Industry Experts
  • Magazines
  • Conferences
  • Newsletter

What Are You Looking For?

  • Home
  • News
  • Treatise
  • Industry Experts
  • Magazines
    • Education
    • Marketing
    • Manufacturing
    • Finance
    • HR & Legal
    • Services
    • Asia Startups
    • Special
  • Conferences
  • About Us

Sign Up for Newsletter

×

Subscribe to our newsletter and Stay updated.

  • Home News

ADB To Issue Loan of USD 131M To Upgrade Jawaharlal Nehru Port

  • By: Asia Business Outlook Team
 Asia Business Outlook Team

The Asian Development Bank (ADB) and Nhava Sheva Freeport Terminal Private Limited (NSFTPL) have signed a USD 131 million (approximately Rs 1,066 crore) loan agreement to upgrade the Jawaharlal Nehru Port Container Terminal in Navi Mumbai, with the goal of increasing international trade in India through efficient, transparent, and cutting-edge logistics infrastructure.

J M Baxi Ports and Logistics Limited (JMBPL) and CMA Terminals own NSFTPL as a special purpose vehicle.

The financing package includes USD 61.4 million from ADB's ordinary capital resources and USD 69.6 million from ADB's Leading Asia's Private Infrastructure Fund (LEAP), according to a statement from the Manila-based multilateral lending agency.

The funds will be used to upgrade existing berths and yards and install additional energy efficient equipment such as electric quay cranes," it said. 

ADB further said these upgrades will expand the terminal's container handling capacity and attract vessels operating on important international shipping lanes.

"Global trade and supply chains are vulnerable to shocks, and enhancing countries’ capacity for trade is critical to the region's recovery from COVID-19 and its ongoing prosperity," ADB Vice-President for Private Sector Operations and Public–Private Partnerships Ashok Lavasa said. 

Lavasa went on to say that long-term ADB financial support can boost India's economic competitiveness by developing world-class megaports and improving the efficiency of containerized cargo terminal operations.

Read More News :

Tin Pei Ling Named As Grab's Director of Public Affairs and Policy
One Channel Expands Korean Content Offering Through KC Global Media And MBC Partnership

Journals

  • Myanmar Distribution Group (MDG): Connecting Businesses With Consumers Through Specialized Market Expansion Services
  • Dynamic Team Holdings: Building Winning Teams Through Team Power
  • Rich Innovation Engineering: A Pioneer In The M&E Engineering Services Industry

Editor's Column

  • Avinash Barik, Assistant Editor, Asia Business Outlook

    A Strategic Shift to Outmaneuver Uncertainty

  • Emmanuel Das, Editor, Asia Business Outlook

    Environmental Governance can be a Road to...

  • Emmanuel Christi Das, Editor

    About time we Turn our Heads to Asia

Industry Experts

  • Dan Garcia,<br/> CISO,<br/> EnterpriseDB

    Best cloud security practices to adopt in 2023

    By: Dan Garcia,
    CISO,
    EnterpriseDB
  • Kapil Lad,<br/> Head of Marketing,<br/> Azeus Systems Limited

    Improving Marketing strategy for 2023

    By: Kapil Lad,
    Head of Marketing,
    Azeus...
© 2023 Asia business Outlook. All Rights Reserved
Subscribe | About Us