DP World will be investing approximately $200m to build a container terminal of 330 metres quay length and 17 hectares of yard which will have an annual handling capacity of 800,000 TEUs (twenty foot equivalent container units) and draft of 13.5 metres. The new quay has been awarded for a 17 year concession period and will be equipped with 4 rail mounted quay cranes and 12 rubber tyred gantry cranes.
Mohammed Sharaf, Group Chief Executive Officer, DP World said, “We thank the Government of India and the Jawaharlal Nehru Port Trust for awarding us this project. India is one of our most important markets and we are committed to supporting its growth over the long term. We currently operate five Indian terminals (Chennai - Mundra - Nhava Sheva - Visakhapatnam - Cochin), and our Asia Pacific and Indian Subcontinent region was the main driver of our volume growth in the first six months of 2012, reporting a 12.1% increase in volumes to 13.3 million TEU.”
Anil Singh, Senior Vice President and Managing Director, DP World Subcontinent said, “We are extremely pleased to receive the award for the 330 metre project. Timely capacity on the west coast of India is critical to our country’s economic growth. JNPT is India’s largest trade gateway and additional port capacity will ease the congestion concerns of the shipping community. We look forward to working with Jawarharlal Nehru port on the project to continue to service India’s trade as the premier gateway.”
About DP World
DP World operates over 60 terminals across six continents(1), with container handling generating around 80% of its revenue. In addition, the company currently has 10 new developments and major expansions underway in 9 countries. DP World aims to enhance customers’ supply chain efficiency by effectively managing container, bulk and other terminal cargo. Its dedicated, experienced and professional team of more than 30,000 people serves customers in some of the most dynamic economies in the world.
The company constantly invests in terminal infrastructure, facilities and people, working closely with customers and business partners to provide quality services today and tomorrow, when and where customers need them. In taking this customer-centric approach, DP World is building on the established relationships and superior level of service demonstrated at its flagship Jebel Ali facility in Dubai, which has been voted “Best Seaport in the Middle East” for 18 consecutive years.
In 2011, DP World handled nearly 55 million TEU (twenty-foot equivalent container units) across its portfolio from the Americas to Asia. With a pipeline of expansion and development projects in key growth markets, including India, China and the Middle East, capacity is expected to rise to around 103 million TEU by 2020, in line with market demand.
DP World Limited, press release