~ Aims to enhance international trade
through efficient and state-of-art logistic infrastructure ~
New Delhi, January 22, 2023: The Asian Development Bank (ADB) announced that a [$131] million deal involving the JICA-funded "Leading Asia's Private Infrastructure Fund" (LEAP)(*) had been signed with Nhava Sheva Freeport Terminal Private Limited (NSFTPL), which comprises an investment of [$61.4] million in the form of a direct loan from ADB and [$69.6] million from LEAP.
In today’s India, it is essential to have a robust supply chain for recovering from the impact of COVID-19 and the further economic development, and further investment is required for boosting economic competitiveness and the efficiency of terminal operations of container ports and transshipment hubs, such as ports in Mumbai.
The project is to refurbish, operate, and maintain Jawaharlal Nehru Port Container Terminal (JNPCT), located in Navi Mumbai, part of the Mumbai metropolitan area in India, on a PPP basis under a 30-year concession awarded to NSFTPL. It will contribute to reducing logistics costs by easing congestion at the port and reducing greenhouse gas emissions through the electrification of facilities. The project will contribute to the achievement of SDGs (Sustainable Development Goals) Goals 8 (Decent Work and Economic Growth) and 9 (Industry, Innovation and Infrastructure).
Speaking on the occasion, Mr. SAITO Mitsunori, Chief Representative, JICA India Office said, “JICA has been supporting the development of approximately 1,500km long dedicated freight railway system under the Western Dedicated Freight Corridor project (WDFC) along Delhi Mumbai Industrial Corridor. In addition to WDFC, by this expansion of JNPCT which is one of the largest and important container ports in India and will be connected with WDFC, the increase of freight transport demand in India will be addressed through efficient and state of art logistic infrastructure, thereby promoting comprehensive regional economic development in the area of Delhi Mumbai Industrial Corridor.”
JICA will continue collaborating with countries and international organizations to promote quality infrastructure investment and contribute to social and economic development in developing countries and regions in line with the SDGs.
(*) Leading Asia's Private Infrastructure Fund (LEAP) is a part of the follow-up measure for the “Partnership for Quality Infrastructure,” which was announced by the Japanese government on November 21, 2015. Targeting high-quality private infrastructure projects in the Asia-Oceania region, the fund provides assistance for such projects organized under various arrangements, including public-private partnerships. In March 2016, JICA approved a $1.5 billion investment in private sector investment financing for LEAP. Providing support for a wide range of sustainable infrastructure projects undertaken by the private sector in ADB member countries of the Asia-Pacific region, LEAP is directed at projects in fields such as the reduction of greenhouse gas emissions, energy efficiency, and the provision of medical services at reasonable prices.
Established by a specific law as an incorporated administrative institution under the Government of Japan, the Japan International Cooperation Agency (JICA) aims to promote international cooperation as the sole Japanese governmental agency in charge of ODA implementation. JICA is the world's largest bilateral donor agency. JICA works as a bridge between Japan and emerging countries, and provides assistance in the form of loans, grants and technical cooperation, so that the emerging countries can strengthen their capabilities.
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