Mumbai Port Authority, plans to develop a marina in the sea with its funds, dropping an earlier move to build it on land on the public-private-partnership (PPP) model, a top official has said, reports Economic Times.
EPC Model
Mumbai Port Authority has decided to abandon its earlier plan to develop a marina on land through a public-private partnership (PPP) model. Instead, the state-owned entity will now build the marina in the sea using its funds.
The marina project, which will be executed under an EPC (Engineering, Procurement, and Construction) model, is currently in the advanced stages of planning and approval. The port authority hopes to secure the necessary clearances soon.
Huge Potential
The decision to abandon the PPP model comes after two failed tender attempts. Despite restructuring the bid terms, the port authority was unable to attract bidders for the project.
The marina, once completed, will offer parking facilities for luxury yachts and pleasure boats. It is expected to boost the tourism industry in Mumbai and enhance the city’s maritime infrastructure.
The potential for a marina in Mumbai Port stems from the large number of yachts that visit the port or are based in the city. Moreover, the fleet anchors the Gateway of India monument, requiring owners to step on board via a small slipway or, in the case of larger yachts, hire tenders to ferry them around.
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Source: Economic Times
