Infrastructure sector projects by DP World in Mumbai

5838

DP World

Dubai-based port operator DP World has announced that it is fast tracking a project to build new facilities in India in a bid to start operations as early in 2015 as possible. A major milestone in the development of the new DP World terminal at India's premier gateway port, Jawaharlal Nehru Port, has been achieved with the ceremonial laying of the foundation stone. The ceremony was carried out by India's Minister of Shipping, Shri GK Vasan, at the Nhava Sheva Gateway Terminal site. Once constructed, the new terminal will add 800,000 TEUs (twenty foot equivalent container units) of container capacity to the port, and help ease congestion, as the port is currently operating beyond capacity DP World is investing $200 million to build the terminal, a statement said. Sultan Ahmed Bin Sulayem, chairman, DP World, said: "Today is an important milestone for us and we thank the Honourable Minister Shri GK Vasan for laying the foundation stone for the Nhava Sheva (India) Gateway Terminal. "The new development would not have been possible without the dedication and commitment of the Government of India to India's trade community. "As the busiest gateway and hub in India, Nhava Sheva has been constrained in the past by lack of facilities, which has impacted trade. We at DP World are proud to bring new capacity to this vibrant city and the fast growing economy of India. "The new terminal will serve India for generations to come and help speed goods to market, stimulating trade, contributing to economic growth, which in turn contributes to the development of communities and individuals." Anil Singh, senior vice president and managing director, DP World Subcontinent added: "For the last five years, India's premier port has been in critical need of capacity with container trade rising. "The building of greater capacity is part of the port's long term vision. Nhava Sheva (India) Gateway Terminal will provide the immediate relief that the trade community urgently requires and we at DP World are fast tracking the project to commence operations as early in 2015 as possible and we have already placed the order for the cranes that will be installed." DP World said that with one of the strongest emerging economies in the world, and a burgeoning middle class population, India offers immense potential for growth. DP World has a portfolio of more than 65 marine terminals across six continents, including new developments underway in India, Africa, Europe, South America and the Middle East. Container handling is the company's core business and generates more than three quarters of its revenue. In 2013, DP World handled more than 55 million TEU. With its committed pipeline of developments and expansions, capacity is expected to rise to more than 100 million TEU by 2020, in line with market demand.

INR 1200 Crore /-

Pre Project Activities Underway

Mumbai

Maharashtra

India

Infrastructure