Several major companies have shown interest in developing and maintaining the dredging, offshore reclamation, and shore protection works for the new Vadhavan Port. These include Adani Ports, Hindustan Infralog (a DP World venture), Larsen & Toubro, and others. The project, estimated to cost Rs 20,647 crores, is being pursued under a Public-Private Partnership (PPP) using the Hybrid Annuity Model (HAM). Prime Minister Narendra Modi recently launched the project, which will be India’s 13th port under Union government ownership. Vadhavan Port is set to handle 298 million tonnes of cargo and 23.2 million TEUs (twenty-foot equivalent units). The Jawaharlal Nehru Port Authority (JNPA) is leading this Rs 76,220 crore project and has called for Expressions of Interest (EoIs) for these key works. Based on the feedback from these EoIs, JNPA will finalize the terms for the PPP-HAM contract before inviting final bids. Unlike traditional methods where payments are made in stages during the project, the HAM model involves paying 40% of the project cost upfront during construction and the remaining 60% over 15 years based on the project's value. The scope of the work includes dredging, reclamation of 1,227 hectares, and long-term maintenance. The winning bidder will not collect revenue; instead, JNPA will handle that. Overall, the project includes not only dredging and reclamation but also infrastructure like roads and rail connections, totaling an investment of Rs 38,976 crores. VPPL, a joint venture of JNPA and the Maharashtra Maritime Board, will manage the project.