RIL to develop Rs 3,500 cr port in Navi Mumbai

After committing Rs 25,000 crore for its special economic zone (SEZ), the Mukesh Ambani-controlled Reliance Industries is planning to develop a multi-purpose port for handling the cargo generated from the proposed SEZ. The company is scouting for a suitable deep-draught location to set up a greenfield facility.

Sources said the multi-purpose port would be developed through a special purpose vehicle (SPV), in partnership with an Indian or international port operator.

The investment for this greenfield port is estimated at Rs 3,500 crore. The port will be equipped to handle cargoes such as bulk, break bulk, liquid, and containers.

The sources said the company was considering suitable locations at Uran and Pen. "Studies are progressing, but nothing has been finalised," they said. Industry sources said the company had already initiated talks with leading manufacturers of cargo handling equipment. When contacted, Reliance Industries executives confirmed that there was a port proposal in the SEZ project, though adding that "nothing has been finalised."

The company has already submitted, through its subsidiary Reliance Logistics, an expression of interest (EoI) for the Rs 5,000-crore fourth container terminal at Jawaharlal Nehru Port Trust (JNPT) in Navi Mumbai.

The International Civil Aviation Organisation (ICAO) is studying the prospects of constructing an international airport in Navi Mumbai, close to the company's proposed SEZ.

"With accessibility to JNPT, having its own port, and proximity to an airport and numerous container freight stations, Reliance Industries' proposition is a profitable one," industry analysts said.