DP World launches $200m India project
Mumbai/Dubai, March 5, 2014
Dubai-based global marine operator DP World on Wednesday (March 5) laid the foundation stone for its new terminal project in India which is being built at an investment of $200 million.
The new DP World terminal will be coming up at India’s premier gateway port, Jawaharlal Nehru Port, said a statement from the Dubai group.
Minister of Shipping GK Vasan laid the foundation stone at a ceremony held at the Nhava Sheva (India) Gateway Terminal site in the presence of the Minister of State for Shipping Milind Deora, DP World chairman Sultan Ahmed Bin Sulayem, and NN Kumar, the chairman of Jawaharlal Nehru Port.
Speaking at the launch, Bin Sulayem said “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.”
"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," he added.
Anil Singh, the senior VP & managing director, DP World Subcontinent said: "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 asearly in 2015 as possible and we have already placed the order for the cranes that will be installed," stated Singh.
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.
With one of the strongest emerging economies in the world, and a burgeoning middle class population, India offers immense potential for growth, stated the Dubai group.
With Nhava Sheva (India) Gateway Terminal, DP World will contribute even more to India’s growth, offering customers the ability to grow and expand their business in India more efficiently, it added.-TradeArabia News Service