It is proposed to be developed under a Design, Build, Finance, Operate and Transfer (DBFOT) model, with a concession period of 45 years.
MUMBAI: Mumbai’s historic harbour could soon acquire a new identity as a destination for luxury yachts, sailing and waterfront tourism, with the Mumbai Port Authority (MbPA) moving ahead with its proposed Rs 922.67-crore marina at Victoria Dock. More than 35 industry representatives attended the project’s first pre-bid meeting, signalling interest from the marine services, infrastructure, shipping, hospitality and financial sectors. 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,” said MbPA chairperson Dr M Angamuthu.
The authority said environmental and Coastal Regulation Zone (CRZ) clearances for the entire project area had already been obtained. This, along with MbPA undertaking the initial marine works, is expected to reduce development risks for prospective investors. “Mumbai’s identity is inseparable from the sea.
The concession also provides for up to 10 years of protection against a competing yacht marina within MbPA limits. The first pre-bid meeting was held at Port Bhavan on October 30, with participants attending both physically and online.
Berthing and repair yard operations will be permitted even before the project’s Commercial Operations Date (COD).
What the private developer will build
The marina, planned over a protected water area of 37.3 hectares, will eventually accommodate 604 yachts. It is proposed to be developed under a Design, Build, Finance, Operate and Transfer (DBFOT) model, with a concession period of 45 years. MbPA will undertake marine works for the first 424 berths, while the selected concessionaire will develop supporting land-based infrastructure, including a five-star hotel, tourism business centre, sailing school, yacht club, yacht repair yard, dry-stack storage facility and fuel station. The principal bidding parameter will be the percentage of gross revenue that the concessionaire will share with MbPA, with a minimum commitment of 11.50%. The authority will issue a corrigendum responding to pre-bid queries by November 18. A second pre-bid meeting is scheduled for November 25. Bids must be submitted by 3pm on December 15, with technical bids scheduled to open on the e-procurement portal at 3.30pm on December 18. Project cost: Rs 922.67 crore Location: Victoria Dock Water area: 37.3 hectares Ultimate capacity: 604 yachts Initial marine works: 424 berths to be developed by MbPA Concession period: 45 years Minimum revenue share to MbPA: 11.50% Five-star hotel Tourism business centre Yacht club Sailing school Yacht repair yard Dry-stack storage facility Fuel station You Can Also Check: Gold Rate in Mumbai | Silver Rate in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai | Mumbai AQI | Weather in Mumbai | Petrol Price in Mumbai | Diesel Price in Mumbai | CNG Price in Mumbai | LPG Price in Mumbai Stay updated with the latest Mumbai news.
A key feature of the project is the division of responsibilities between the port authority and the private developer. The percentage will remain fixed throughout the concession period, while charges levied on marina users will be market-determined. An Integrity Pact, supported by two Independent External Monitors, has been incorporated into the tender process. The marina is part of MbPA’s broader waterfront development programme, which also includes the Mumbai International Cruise Terminal, water taxi network and heritage waterfront precincts. The project is intended to expand the city’s maritime tourism and harbour services while retaining port operations and safety as central considerations. Download the TOI App.