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Navi Mumbai: Jawaharlal Nehru Port Authority Appoints IDBI Capital As Transaction Advisor To Raise Funds For Controversial Vadhavan Project

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The Jawaharlal Nehru Port Authority (JNPA) has appointed IDBI Capital Markets and Securities Ltd as the transaction advisor to raise funds for the ambitious Vadhavan Port. The Port authorities and IDBI Capital has also held preliminary discussions with potential funding agencies to raise funds for the mega project.

“While the initial funding will come from the equity contributions of the Port promoters, the debt will be raised in a phased manner subject to finalisation of project structuring and timeline of revenue generation on the back of award of concessions to private firms for running cargo terminals,” a senior JNPA official said not wishing to be named.

Port awaits environmental and coastal clearance

JNPA will develop Vadhavan Port in Dahanu taluka of Palghar district with the participation of the Maharashtra government and Maharashtra Maritime Board (MMB). A memorandum of understanding (MoU) was signed on June 5, 2015 to set up a new port at Vadhavan as a major port to be notified under the Indian Ports Act, 1908 by the Government of India. This port will be jointly implemented by JNPA and MMB with a shareholding of 74 per cent and 26 per cent respectively. The port will be developed on the Landlord Port concept.

The proposed Port is currently awaiting environmental and coastal clearance from the Ministry of Environment, Forests & Climate Change (MoEF&CC). A committee of the Pollution Control Board recently held a public hearing to address environmental concerns for the Greenfield port. The hearing was held in the presence of Deputy Collector of Daman, Dadara & Nagar Haveli, which was attended by the various stakeholders and representatives of fisherman community.JNPA identified sand borrow pit at around 50 km to 60 km in the Arabian Sea from the proposed Vadhavan Port and about 50 km from Daman Coast for obtaining 200 Million CuM sand by dredging to create land at the proposed Vadhavan Port. In the public hearing held as per the directions of the MoEF&CC, various concerns raised by the stakeholders were addressed and the hearing went smoothly. The minutes of the public hearing would be forwarded to MoEF&CC to obtain comprehensive Environment Clearance for the development of Vadhavan Port.

Environmentalists oppose the port

The Rs 76,220 Crore Greenfield Port at Vadhavan in Dahanu Taluka of Palghar district has been opposed by the environmentalists claiming the port is an ecological disaster in waiting.JNPA had signed a memorandum of understanding (MoU) worth ₹20,000 crore with global logistics operator DP World at the Global Maritime India Summit in Mumbai, for the development of the Vadhavan port. JNPA said the Vadhavan port is JNPA’s one of the most ambitious projects that will be able to handle almost 24 million TEUs, making it among the top 10 in the world.

Maharashtra

ED took action on 15 places including Mithi river, cleanliness, irregularities, Dino Morea

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Dino Morea ED

Mumbai: The Enforcement Directorate (ED) has raided 15 places including Mumbai in the irregularities case in the cleaning of the Mithi river. The Enforcement Directorate has also claimed to have seized many important documents related to the case while conducting raids in Mumbai and Kochi. The ED has also raided the house of film actor Dino Maurya. The EOW has registered the first FIR in this case, after which the Enforcement Directorate has now started a parallel investigation. The ED has taken this action under the PMLA Money Laundering Act. Dino Maurya has also been involved in this irregularity. The EOW has also questioned him and his brother.

It is said that Dino Maurya and Ketan are close to Shiv Sena leader Aditya Thackeray. Now Dino’s troubles have increased. The EOW has found many important documents and evidence in the Mithi river corruption and irregularities case in Mumbai, so now the ED has also started its action in the case of misuse of funding and illegal tender purchase in this case. Many Shiv Sena leaders are also in the ambit of ED action, because during the Mithi river corruption scam, Shiv Sena was ruling the BMC, so the scope of investigation has become focused on Shiv Sena leaders. EOW has also made significant progress in its action in the Mithi river corruption case in Mumbai. More revelations are expected after the arrival of ED in this case. EOW has taken action against 13 people in this case so far and has also arrested them. In this, political leaders including BMC officials are also on the radar of ED.

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Maharashtra

Mumbai: MLA and SP leader Abu Asim Azmi appeals to avoid sacrificing animals in the open on Eid-ul-Azha

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Mumbai: Mumbai Maharashtra Samajwadi Party leader and MLA Abu Asim Azmi has appealed to Muslims not to perform Qurbani in the open and also follow BMC and government guidelines. Cleanliness is half of faith, so take special care of cleanliness. Not only this, it is mandatory to follow all the guidelines and guiding principles set regarding Qurbani. Take special care of cleanliness and ensure that the brothers and sisters of the country do not face any kind of trouble on Eid-ul-Azha. This is the real teaching of Islam. Celebrate Eid with mutual love, brotherhood and following Sunnat Ibrahimi. Azmi said that the waste of Qurbani on Eid should also be kept in bags and thrown in the dustbin.

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Maharashtra

Mumbai Congress delegation meets Municipal Commissioner, expresses grave concern over poor condition of city

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Mumbai: Today, a high-level Congress delegation led by Mumbai Congress President and MP Prof. Varsha Tai Gaikwad met BMC Commissioner Bhushan Gagrani. The delegation included MLA Aslam Shaikh, MLA Amin Patel, MLA Dr. Jyoti Tai Gaikwad, former corporator Haji Babbu Khan and other former corporators of Mumbai Congress.

Several important issues were raised in the meeting on administrative collapse, corruption and deterioration of public amenities in Mumbai.

‎🛑 Highlights of the meeting:

‎🔸 Increase in property tax without public approval
Violating the directions of the Supreme Court, the BMC increased property tax in the absence of elected representatives. The Congress strongly opposed this unconstitutional move and called it a financial burden on the people of Mumbai.

‎Scams in road construction
‎There is a possibility of massive corruption in the concreting of roads. Only 25% of the work has been completed so far and that too has been hampered by poor quality, damage to pipelines and serious irregularities in tendering – particularly in the inorganic phosphate based geo-polymer concrete tender.

‎🔸 Drain cleaning scam

Drain cleaning before the monsoon has become a sham. All the work has been handed over to contractors, no monitoring, no accountability. The Congress has demanded immediate and strict action.

‎🔸 Medical facilities in ICUs

BMC hospitals – like Baba, Rajawadi, Shatabdi and Bhagwati – are in a shambles. Patients are being forcibly sent to private hospitals, while privatisation of hospitals and delay in development work have worsened the problems.

‎🔸 Waste management
‎The sanitation system is already failing and now the BMC is considering imposing a “garbage tax”. In areas like Kurla and Borivali, the sewer line work has been incomplete for years.

‎🔸 Failure of the education system:

BMC school children have not yet been given books and uniforms. The commissioner has given a deadline of June 15. If this work is not completed, the Congress will again come out with questions on June 16.

‎🔸 Delay in housing schemes and PAP projects:

Housing schemes, PAP and redevelopment projects in areas like Andheri, Vakola, Khar have been victims of builder fraud, misuse of TDR and government negligence.

‎🔸 Other important issues

Corruption in central procurement process

Delay in approving hawking policy

Acute lack of facilities in Muslim graveyards

🗣️ Congress demands:

✅ ACB should investigate contractor mafia in BMC

✅ Independent audit of drain cleaning and road construction works

✅ Independent monitoring body should be formed for BMC tenders

Mumbai cannot be left at the mercy of a neglected and corrupt system. Congress will continue to fight at every level by becoming the voice of the people of Mumbai!

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