New Mangalore Port Authority Inks Rs 8,347-cr Deals at Global Maritime Summit

The New Mangalore Port Authority (NMPA) has successfully concluded seven Memorandums of Understanding (MoUs) worth Rs. 8,347 crore at the Global Maritime India Summit 2023 in Mumbai. Among these agreements, two MoUs valued at Rs. 5,000 crore were signed with Mangalore Refinery and Petrochemicals (MRPL) for port-based infrastructure and Rs. 1,500 crore for a desalination plant. Additionally, collaborations with Hindustan Petroleum Corporation, Indian Oil Corporation, Karnataka Maritime Board, Sealord Containers, and Public Health Preparedness Clinic were made, focusing on port-led industrialization and storage infrastructure, totaling Rs. 1,800 crore and Rs. 47 crore investments respectively. These deals signify a significant stride toward the port's extensive development and associated facilities.