The Asian Development Bank (ADB) has signed a INR10.6 billion (US$130 million) loan agreement with Nhava Sheva Freeport Terminal Private Limited (NSFTPL) including the Japan International Cooperation Agency (JICA)-funded to upgrade the Jawaharlal Nehru port container terminal in Mumbai, India.

The aim of this loan agreement is to:

• upgrade existing berths and yards;
• install additional energy-efficient equipment such as electric quay cranes; 
• expand terminal container handling capacity; and
• reduce logistics costs by easing congestion at the port and reducing greenhouse gas emissions through the electrification of facilities.

The financing package comprises US$61.4 million from ADB's ordinary capital resource and US$69.6 million from Asia's private infrastructure fund (LEAP) administered by ADB.