Mumbai’s proposed marina development at Victoria Dock has received an encouraging response from the industry, with more than 35 representatives attending the first pre-bid meeting organised by the Mumbai Port Authority (MbPA) on October 30.
Participants included stakeholders from marine services, infrastructure, shipping, logistics, hospitality, finance and consultancy sectors. The meeting was conducted at Port Bhavan, with representatives attending both in person and virtually.
604-Yacht Marina Planned at Victoria Dock
The project, estimated to cost Rs 922.67 crore, will be implemented under the Design, Build, Finance, Operate and Transfer (DBFOT) model through a 45-year concession agreement. Once completed, the marina will have the capacity to accommodate 604 yachts across a sheltered water area spanning 37.3 hectares.
The port authority will develop marine infrastructure for the first 424 berths, while the appointed private concessionaire will construct supporting facilities. These will include a five-star hotel, tourism business centre, sailing school, yacht club, repair yard, dry stack facility and fuel station.
Environmental Clearances and Investor Incentives
MbPA has confirmed that environmental and Coastal Regulation Zone (CRZ) approvals have been obtained for the entire project. By taking responsibility for the initial marine infrastructure, the authority intends to minimise investment risks and attract private participation.
Bidders will be evaluated based on the share of gross revenue offered to the port authority, with the minimum contribution fixed at 11.50% throughout the concession period. User charges will be determined according to market conditions.
The agreement also provides up to 10 years of protection against competing yacht marina developments within MbPA’s jurisdiction. Developers can begin berthing and repair operations before the project’s Commercial Operations Date (COD).
Bidding Schedule and Development Outlook
Mumbai Port Authority Chairperson Dr M Angamuthu welcomed the industry’s response, stating, “Mumbai’s identity is inseparable from the sea. We have taken the marine risk and secured the clearances, so that serious investors can focus on building a new public-facing maritime destination for Mumbai,” he said.
The authority will issue a corrigendum addressing queries by November 18. The second pre-bid meeting is scheduled for November 25, followed by the bid submission deadline on December 15 at 3 pm. Technical bids will open on December 18.
The marina forms part of MbPA’s broader waterfront development strategy, alongside cruise terminal expansion, water taxis, and heritage waterfront projects, aimed at strengthening Mumbai’s maritime tourism infrastructure.
Source: The Free Press Journal
