ITD Cementation India Ltd has secured a ₹1,648 crore engineering, procurement, and construction (EPC) contract for the Vadhvan Port project in Maharashtra. The scope of work includes near-shore reclamation and shore protection, critical for enabling other infrastructure components of the port. The bid, submitted at 6.9% below the estimated cost of ₹1,770 crore (excluding GST), was approved by the Vadhvan Port Project Limited (VPPL) board during its eighth meeting.
The project will involve the reclamation of approximately 200 hectares of near-shore land, laying the foundation for loading points and other core infrastructure. VPPL emphasized the technical and financial feasibility of ITD Cementation’s proposal, which outperformed competing bids from Man Infra Construction (in partnership with TIPL) and Navayuga Engineering.
Unmesh Wagh, Chairman of Jawaharlal Nehru Port Authority (JNPA) and CMD of VPPL, remarked, “This contract marks a major milestone in establishing the core infrastructure for Vadhvan Port. The near-shore reclamation work will pave the way for future phases of the project and support sustainable development.”
In October 2024, ITD Cementation’s promoter entity, Italian-Thai Development Public Company Limited, entered a share purchase agreement with Renew Exim DMCC, part of the Adani Group, for a 46.64% stake in ITD Cementation. The Vadhvan Port project, India’s largest port development initiative with an estimated cost of ₹76,220 crore, is being implemented by VPPL, a special-purpose vehicle. JNPA owns a 74% stake in VPPL, with the Maharashtra Maritime Board holding the remaining 26%.
Once completed, Vadhvan will become India’s 13th major port and its largest container terminal. The first phase, expected by 2029, will feature a cargo-handling capacity of 298 million metric tonnes annually, including 23.2 million twenty-foot equivalent units (TEUs).
The all-weather deep draft port, located in Maharashtra’s Palghar district, is being developed under a landlord model with public-private partnership (PPP) terminal operations. The project is also anticipated to generate 1.2 million jobs.
In a significant boost, Switzerland-based Terminal Investment Limited Sarl (TIL) recently announced an investment of ₹20,000 crore in the project. TIL, active in managing container terminals across 31 countries, is a key player in global port operations.
ITD Cementation India Limited is a prominent Engineering and Construction company with nearly nine decades of experience in India. Renowned for its expertise in Heavy Civil, Infrastructure, and EPC projects, the company has a strong presence across diverse sectors, including Maritime Structures, Mass Rapid Transit Systems, Airports, Hydro-Electric Power, Tunnels, Dams and Irrigation, Highways, Bridges and Flyovers, Industrial Structures and Buildings, Water and Wastewater management, as well as Foundation and Specialist Engineering.
