Dubai: Dubai based ports giant DP World will invest around $510 million in Gujarat, India. DP World will build a new container terminal at the Kandla port in the state. DP World signed an agreement with the Deendayal Port Authority to develop, operate and maintain the new 2.19 million TEU per annum facility.
‘It will enable the delivery of trade opportunities by connecting northern, western and central India with global markets,’ said Sultan Ahmed Bin Sulayem, DP World’s CEO, after the signing of an agreement.
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The terminal will be completed in 2017. It will handle 2.19 million TEU per year and has a 1,100 m berth capable of handling next-generation vessels carrying more than 18,000 TEUs.
Currently, DP World operates five container terminals in India — two in Mumbai and one each in Mundra, Cochin and Chennai – with a combined capacity of about 6 million twenty foot equivalent units (TEUs), giving it a market share of 28% of container traffic volume in the country. The new terminal will take the combined capacity to 8.19 million TEUs.
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