Mumbai Port Authority’s proposed Rs 922.67-crore yacht marina at Victoria Dock has drawn more than 35 industry representatives to its first pre-bid meeting, advancing a project that will create berths for 604 yachts and add hospitality, repair and sailing facilities to the harbour waterfront.
The meeting, held at Port Bhavan on October 30 with participants attending in person and online, attracted companies and organisations from the marine services, infrastructure, shipping, hospitality and financial sectors. The project will be developed over a protected water area measuring 37.3 hectares under a Design, Build, Finance, Operate and Transfer model.
The planned concession period is 45 years. Mumbai Port Authority, or MbPA, will undertake marine works for the first 424 berths, while the selected private concessionaire will develop the supporting land-based facilities. These will include a five-star hotel, tourism business centre, yacht club, sailing school, yacht repair yard, dry-stack storage facility and fuel station.
MbPA said environmental and Coastal Regulation Zone clearances for the entire project area had already been obtained. The port authority’s decision to undertake the initial marine works and secure the clearances is intended to reduce development risks for prospective bidders.
“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,” MbPA chairperson Dr M Angamuthu said.
Revenue sharing with the port authority will be the principal bidding parameter. The selected concessionaire must commit to sharing at least 11.50% of gross revenue with MbPA. That percentage will remain fixed throughout the concession period, while user charges at the marina will be determined by the market.
The concession terms also provide for up to 10 years of protection against a competing yacht marina within MbPA limits. Berthing and repair yard operations will be permitted before the project reaches its Commercial Operations Date, according to the tender details.
The marina is part of MbPA’s broader waterfront development programme, which includes the Mumbai International Cruise Terminal, a water taxi network and heritage waterfront precincts. The authority has said the proposed development is intended to expand maritime tourism and harbour services while retaining port operations and safety as central considerations.
MbPA 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, while technical bids are scheduled to open on the e-procurement portal at 3.30pm on December 18.
The tender process includes an Integrity Pact supported by two Independent External Monitors. The project’s ultimate capacity is planned at 604 yachts, with the initial 424 berths forming part of the marine works to be undertaken by MbPA.
