The port is located inside Jaigad creek, Dist. Ratnagiri, about 110 nautical miles south of Mumbai. The Concession Agreement was signed in March, 2008 with M/s Chowgule Ports & Infrastructure Pvt. Ltd., a constituent company of Chowgule Group. The Port facility will comprise of two cargo berths and a ship-lift system for ship repairs. The project would bring-in investment to the tune of Rs. 720 crores. This port is expected to handle about 5 MTPA, when fully operational. The ship-lift system will cater to the needs of shipping industry for repairing vessels. The ship-lift system project has received Environmental Clearance. The project is expected to be commissioned by June, 2011.