New 300-berth facility will have an investment value of around US$50m

The Mumbai Port Trust (MPT) will shortly announce a global tender for the construction of a new 300-berth marina proposed for Princes Dock in the port of Mumbai. According to a report in the Free Press Journal, the value of the project is estimated at Rs 360 crore (US$50m).

To allow the project to be a viable proposition, the MPT will initiate it through a public private partnership and the winning bidder will be awarded a concession to build and operate the marina for 50 years. This concession will include an anticipated three years to construct the marina and it will allow the winning bidder to rent out space around the dock and undertake tourism-related activities on a profit-sharing basis with the MPT.

According to the Free Press Journal report, the marina is one of a number of projects proposed for Mumbai’s eastern waterfront. The aim of the marina is to provide a new berthing place for boats and yachts that currently berth near the Gateway of India.

Once launched the tender process will invite interested parties to apply and it is hoped this will be completed by the end of July. Work on the marina will start probably early in 2021. This will include developing a design of the marina to an international standard, deciding on the dock system to be used, space for a shipyard area, a dry stack, fuel berth, a commercial zone and other ancillary systems and services.