JNPT, IOTL sign MoU worth Rs 150 cr for infrastructure development near JNPT portThe Maritime India Summit held by the Jawaharlal Nehru Port Trust (JNPT) was by Prime Minister Narendra Modi on 2 March 2021.

On this occasion, Indian Oiltanking (IOTL), India’s leading terminalling services provider and a joint venture of the Indian Oil Corporation and the Jawaharlal Nehru Port Trust, inked a memorandum of understanding (MoU) to commit Rs 150 crore to infrastructure development near the port.

The MoU was signed by Deputy Chairman Unmesh Wagh on behalf of JNPT and Vice President Atul Kharate of IOTL.

The project involves proposed expansion of the existing tank farm at Navghar in Maharashtra. It involves liquid storage tankage terminal expansion, including additional pipeline from JNPT Port to IOTL Navghar Terminal. The project is expected to commence operations in 2025.

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