Mumbai, Dec. 20 -- The central government has approved plans to develop a world-class marina for private yachts at Cross Island, near the Princess and Victoria docks, at an estimated cost of Rs.887 crore, Union shipping minister Sarbananda Sonowal said in a media statement released late at night on Thursday. The Mumbai Port Authority (MbPA) will invest around Rs.470 crore on core marina infrastructure such as breakwaters and berths for 424 yachts in the first phase, while a private operator will develop onshore facilities such as a terminal building, a sailing school, a tourism development centre, and clubhouse facilities, the statement said. "Approval of the 'Viksit Bharat Mumbai Marina' marks an important step in our efforts to strengthen coastal shipping and maritime tourism," said Sonowal, according to Thursday's media statement. "The project will help position Mumbai as a global maritime tourism hub while advancing India's broader blue economy goals," the statement added. While Mumbai, a key maritime hub, is witnessing growing demand for yachting infrastructure, yacht owners currently face significant challenges as most yachts are anchored near the Gateway of India, with limited facilities for refueling, maintenance, and berthing. To address this gap, the Mumbai Port Authority had proposed to develop the 'Viksit Bharat Mumbai Marina', encompassing nearly 12 hectares of water area. The marina, proposed as part of the port authority's plans to open a part of its idle land, has now been approved by the ministry of ports, shipping and waterways. "The marina is in line with the vision articulated by Prime Minister Narendra Modi for creating global-standard tourism destinations and strengthening India's maritime economy," shipping minister Sonowal was quoted saying in the ministry's statement. The project will be implemented through a hybrid development model, under which the MbPA will invest around Rs.470 crore to construct core marina infrastructure on an EPC (Engineering, Procurement, and Construction) basis, while a private operator will be roped in to create onshore facilities. A tender calling for bids to develop the onshore facilities at an estimated cost of Rs.417 crore was floated last week, with December 29, 2025 being the last date for submission of bids. Once construction is complete, operation and maintenance of the marina will likely be handed over to private players, officials familiar with the matter said. The project will strengthen maritime tourism, attract private investment and create more than 2,000 jobs across marina operations, cruise services, hospitality and allied activities while opening new opportunities in coastal and blue economy activities, said Sonowal. MbPA chairperson N Angamuthu said the 'Viksit Bharat Mumbai Marina' would be Mumbai port's signature project and it would add value to the entire maritime ecosystem. "It will also improve public access to the waterfront and strengthen Mumbai's position as a major hub for maritime tourism and cruise traffic," said Angamuthu....